Texas Living Trust Forms
Download a Texas Living Trust Form which provides a way for an individual to set aside certain property and assets into a separate entity for the benefit of the grantor’s (the person who creates the trust), loved ones. A trust provides flexibility because the grantor can include certain parameters, such as age requirements, or purpose requirements, governing the dissemination of the assets depending on his or her family situation. A trust provides continuity of property management, because the entity continues in existence even after the grantor dies. A trustee, chosen by the grantor, is charged with carrying out the the trust for the best interest of the beneficiaries.
Revocable vs. Irrevocable: Revocable trusts can be changed or revoked during the life of the grantor and the assets in a revocable trust are includable in the grantor’s taxable estate. Irrevocable trusts are not meant to be changed or revoked.