Plus, 4 Expert Tips to Help You Make Confident Decisions
When it comes to protecting your assets and ensuring your loved ones avoid the stress and cost of probate, few tools are more effective than a Texas living trust.
At Comer Law Group, we help individuals and families across Dallas, Houston, and beyond create customized estate plans that align with their lifelong financial goals. In this overview, we’ll walk you through the steps that our legal experts take when creating a living trust for our clients.
To schedule your living trust appointment, contact Comer Law Group today at 1 888 387 0650.
❓What Is a Living Trust?
A living trust is a legal document that places your assets into a trust during your lifetime. You control the trust while you’re alive, and after your death, a successor trustee distributes the assets as you’ve outlined—without going through probate court.
📝 Step 1: Decide Between a Revocable and Irrevocable Trust
- Revocable Living Trust: Can be changed at any time during your life. This is the most common choice for estate planning in Texas.
- Irrevocable Trust: Cannot be modified once established, but offers certain tax and asset protection benefits.
To put these trusts into context, let’s say you establish a trust when your main assets are a car and a house. Ten years later, you purchase a second rental property.
- With a Revocable Trust,you would be able to easily add the rental property into your trust, protecting it from probate court.
- With an Irrevocable Trust, you would need to create an entirely new trust to add this second property.
Tip: Most individuals in Texas opt for a revocable trust because of its flexibility.
👥 Step 2: Choose a Trustee
Our team of estate planners will help you name the individuals who will manage your trust. You’ll need to identify at least two individuals:
- Yourself as the initial trustee, so that you retain control over your assets.
- A successor trustee, who will manage the trust if you become incapacitated or after your death.
Tip: Choose someone trustworthy and financially responsible—this could be an adult child, close friend, or even a professional fiduciary.
🧾 Step 3: List the Assets You Want in the Trust
Next, Comer Law Group will walk you through creating an inventory of assets to place into your trust, such as:
- Real estate (your primary residence, rental properties)
- Bank accounts
- Investments
- Business interests
- Vehicles
- Personal property (jewelry, art, collectibles)
Tip: You do not need to include retirement accounts (like IRAs or 401(k)s) in the trust, but you can name the trust as a beneficiary if appropriate.
📃 Step 4: Draft the Living Trust Document
This step is vital. A Comer Law Group attorney ensures that your trust document will:
- Name the trustee(s) and beneficiaries
- Outline instructions for asset management and distribution
- Include incapacity provisions
- Provide guidance on how debts and expenses should be handled
At Comer Law Group, we tailor each trust to meet your specific goals, family dynamics, and tax planning needs.
🏛️ Step 5: Sign the Trust in Front of a Notary
Texas law requires that the living trust be signed and notarized. Only once notarized does it become legally enforceable.
💼 Step 6: Fund the Trust
Creating the trust is only half the process—you must transfer ownership of your assets into the trust. This includes:
- Executing new deeds for real estate
- Changing titles on bank and brokerage accounts
- Updating insurance policies or beneficiary designations where appropriate
Tip: Failing to fund your trust properly may result in assets still going through probate.
📂 Step 7: Store the Trust Safely and Update It as Needed
Keep your signed trust document in a secure but accessible location (e.g., a fireproof safe). Make sure your successor trustee knows where to find it!
Contact your attorney to update your trust if you:
- Move to another state
- Buy or sell major assets
- Experience a life change (marriage, divorce, birth, death)
🧠 New to Comer Law Group?
We’re a dedicated group of experienced and highly credible legal professionals, proudly representing clients all across Texas. From our Dallas office, we have a commitment to excellence and a client-centered approach. Comer Law Group provides expert legal services tailored to meet the unique needs of our clients. With our knowledge and case-winning strategies, our team is committed to achieving justice and securing the best possible results for our clients. To become an estate planning client, visit the Comer Law Group website, or call us directly at 1 888 387 0650.
Creating a living trust is one of the most important steps you can take to protect your legacy. At Comer Law Group, we bring deep knowledge of Texas estate law, personal attention, and a commitment to practical, efficient planning. We don’t just fill in the blanks—we build custom estate plans that work for real people and real families. We look forward to working with you to tailor and solidify your estate plan.
