Irving Revocable and Irrevocable Trusts Lawyer

Lawyer for Trusts in Dallas County

Trusts are rapidly becoming a more popular choice for transferring assets after death. The expense and difficulty of the probate process associated with wills is driving more and more estate planners to choose trusts. Trusts are also rather malleable, and there are nearly endless purposes a trust could serve, and there are many types of trusts. There are a number of benefits to using a trust or trusts as part of your comprehensive estate plan, with privacy and flexibility being at the top of the list.

The team at Andrew Dunlap Attorneys, PLLC is highly experienced in creating customized trusts for clients. Our skilled estate planning lawyer will take the time to assess your personal, individual situation and tailor-design the trust documents you need.

Revocable Living Trusts

A revocable living trust is created during the grantor's lifetime. Unlike a will, which has no legal effect until the testator has died, a revocable living trust has an immediate impact. When you "fund" your trust, the title to that property is owned by the trust as soon as the papers are signed. During your lifetime, you can use the trust to manage your property. Because the trust is revocable, you will remain free to move property in and out of the trust, change beneficiaries, or outright revoke the trust.

You may serve as your own trustee and manage the trust property yourself, or you can appoint someone else. If you are serving as your own trustee, you will appoint a successor trustee. Should you become incapacitated or pass away, the trustee or successor trustee retains access to the trust. This trustee will be able to manage your financial affairs throughout incapacity or follow a simplified process to distribute assets to your beneficiaries upon your death.

Attorney Andrew Dunlap is experienced in managing the creation of a revocable living trust. If a revocable living trust makes sense for you as part of your customized estate plan, our firm can help.

Irrevocable Trusts

Irrevocable trusts function similarly to revocable living trusts, except that once this type of trust is created, it cannot be amended or altered. There are various types of irrevocable trusts that might be available to you, and they are often used to limit estate taxes or protect assets from aggressive creditors. In exchange for such benefits, the creator of irrevocable trust must give up certain rights, including the ability to make changes to the trust documents during their lifetime.

Minor's and Special Needs Trusts

When you have minor children or a special needs dependent, a trust may be your best legal option for making sure their needs will be met in the future. These trusts allow you to both create a fund for your loved one's care and appoint someone you trust to manage it.

Our attorneys are skilled at drafting trust documents specifically designed to provide for a child or adult with special needs. Andrew Dunlap Attorneys, PLLC recognizes the importance of making sure your vulnerable loved one is cared for. We will strive to create the perfect trust for your family's unique needs so that you can relax, knowing your child or special needs family member is going to be cared for.

Call a Dallas Area Lawyer for Trusts

At Andrew Dunlap Attorneys, PLLC, we understand that every individual's estate planning needs are entirely unique. We will take the time to listen to your wishes and create custom trust documents to meet your needs. Contact our office at 972-807-6357 to discuss your situation in a confidential consultation today. We serve individuals and families throughout North Texas.