Legal Question in Wills and Trusts in Texas

Re: Trusts vs Wills

A trust is not necessarily as good or better than a will. In Texas, probating a will is relatively inexpensive and, if unchallenged, Letters Testamentary will issue in a short period of time. Many times a simple will is less expensive and more appropriate to use than a trust. There are good uses for trusts, but estate "planning" is just that. Each estate is different and has its own needs.

Re: Trusts vs Wills

In short, a trust is a way of holding property for someone's benefit. It is a tool for estate and financial planning. Like any tool, there are good applications and poor applications.

Even with what's known as a "Living Trust", there has to be a will. The Living Trust started in California because the cost of probate was a percentage of the estate, and a Living Trust reduced the size of the estate. It has been oversold here in Texas, because probate is usually time-based and costs, on average, anywhere from $1200 to $2500 without regard to the size of the estate.