Home » Trusts and Trust Administration in Houston, Texas
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A trust is an arrangement where you place property with another party for your benefit or for the benefit of some other party. The party that holds the property is referred to as the trustee.
The trustee has to take possession of the property and manage the assets according to Texas law. The trustee also has tso answer to the beneficiaries as specified in the trust agreement and, if necessary, to the courts. Even irrevocable trusts can be changed by the courts.
Texas and Federal law provide a number of rules for how to structure trusts and the obligations imposed by trusts. These laws differ based on the type of trust. Here are some of the common trust arrangements:
Each of these trusts is used to help accomplish specific goals.
If you need help setting up a trust, we want to hear from you. We are Houston trust attorneys. We help clients set up trusts to accomplish their goals. Call today for a free confidential consultation, 281-219-9090.