Legal Question in Wills and Trusts in Texas

Initiating a Trust

I have used several sites on the web (including

yours to prepare a Trust for me and my family. I

have named myself as Grantor and my only son

and only daughter as Trustees. I have made up a

Schedule A which transfers my home, cars, cash

and time-share to the trust. I understand that

upon my death all of the trust proceeds will go to

my wife, correct? If my wife and I die together, will

my son and daughter be able to liquidate the trust

to themselves as I desire? Does the trust stay in

effect even following my death and my wife is

living? Can my wife sell or trade and cash in any

items in the trust? Does my son simply sign over

the items to her with his signature followed by the

word 'Trustee?' Also how do I get the title to cars

my home, and time-share real estate transferred

to the trust--who do I contact in each case? Am I a

trustee of the trust, is my wife? Are there any

ramifications from my completing and forming the

trust myself and having myself, my son and my

daughter sign as trustees? Please provide as

much information about trust that you can in a

short span.

Asked on 1/12/02, 7:51 pm

1 Answer from Attorneys

Peter Bradie Bradie, Bradie & Bradie

Re: Initiating a Trust

Get yourself an estate-planning lawyer to assist you with the trust you've put together. There's no way anyone can answer your questions about your trust without seeing what you've written into the trust document itself.

The only difference between do-it-yourself surgery and do-it-yourself lawyering is that the pain is immediate with surgery. At least you are still alive to possibly correct what you may have done with your trust document.

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Answered on 1/14/02, 10:56 am

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