Shutt Law Firm, PLLC assists clients with all manner of testamentary trusts in Texas. A testamentary trust is a trust that is created within the client’s will and doesn’t start operating until after the client’s death. Contact Richardson estate planning attorney Isaac Shutt to learn more about Revocable Trusts, Irrevocable Trusts, Bypass Trusts, QTIP Trusts, Trusts for Minor Children, and many others. The law office in Richardson can also help with Miller’s Trusts and Ladybird Deeds.
A testamentary trust springs into action upon the client’s death. Testamentary trusts are contained in the Last Will and Testament. The testamentary trust can be amended or revoked any time before the client’s death. However, after the client passes away, the testamentary trust becomes irrevocable and generally cannot be amended.
Testamentary trusts are commonly used to provide for minor children (or other young beneficiaries), to avoid an estate tax or inheritance tax, or to manage how the decedent’s property will be distributed upon death. There are many variations of testamentary trust, and they are customized for each client’s estate planning objectives.