This is the best legal instrument devised by man to protect and preserve the physical blessings you and your family have received.
The Texas Supreme Court has declared the Texas Revocable Living Trust (TRLT) to be a superior method for your estate planning rendering wills and probate obsolete. The court states in part:
“…Living trusts often afford better management, greater protection more privacy and considerable economy.” Westerfeld v. Huckably, 474 S.W. 2d 189 (Texas Supreme Court)
You may not be aware that a Will requires your estate to be probated when you die, which may result in a 2 to 5 year wait to receive assets and a loss of 10% to 30% of the value of the estate. Multiple probates are required for Real Property in other states or counties. All of your records and documents are now of public record. This can be eliminated with a TRLT.
A great advantage over a will is the spendthrift clause of the TRLT, which protects the beneficiaries from their judgment creditors when property is in the trust and after property is distributed to them. Lifetime benefits include (1) judgment-proofing of property if the grantor(s) get sued and has a judgment after four (4) years; (2) isolation of high liability assets from low liability assets with multiple TLRTs, and (3) the ultimate privacy of your financial affairs. Multiple TLRTs can also isolate different family members from conflict.
The grantor(s) can alter, amend, revoke or terminate the TRLT at any time with no tax or legal consequences. The TRLT receives property by gift with no gift tax. The grantor / trustee does not lose his or her homestead property tax exemption on the homestead property. Any income to the TRLT is taxed to the grantor who reports the income on a from 1040 income tax return.
ProAdvocate Group—a Private Legal Membership Association with 41 years’ experience—will set up the appropriate number of TRLTs for you, both present and future, including all transfer documents and a lifetime defense if challenged all the way to the Supreme Court as a Pro Se litigant. The charge is a one-time life time fee of only $1200.00.
Please call 214.387.0821 for an appointment.