Do I need a trust in Texas?

For most families with real estate, business interests, or estates above a modest threshold, a revocable living trust is a strong foundation. When properly funded, it generally avoids probate, keeps your affairs private, and simplifies administration for your loved ones. For smaller, simpler estates, a well-drafted will-based plan can be equally effective. The right choice depends on what you own, how it's titled, and your goals.

What is the difference between a will and a trust?

A will directs the distribution of your assets after death but must pass through probate. A revocable living trust holds assets during your lifetime and transfers them to beneficiaries at death without probate, offering greater privacy and simpler administration. Most comprehensive estate plans use both.

Does Texas have an estate tax?

Texas does not impose a state estate tax. However, estates above the federal exemption threshold may be subject to the federal estate tax. Proactive planning using trusts, gifting strategies, and other techniques can help reduce or defer that liability.

How often should I update my estate plan?

Plans should be reviewed every three to five years, or sooner after major life events such as marriage, divorce, the birth of a child, a significant change in assets, or the death of a named beneficiary. Tax law changes can also warrant a review.

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Olive Branch Counsel, PLLC

Olive Branch Counsel, PLLC provides estate planning and tax planning services to individuals and families in Plano, Frisco, Dallas, McKinney, and throughout North Texas.

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