This document is a 53-page Declaration of Trust. It includes definitions of all relevant terms, as well as the constitution, capital accounts, valuations and prices, issue of units, register of unitholders, transmission, redemption of units, and every other necessary clause that constitutes a valid Declaration of Trust.
Texas Declaration of Trust
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As long as you are confident that your trust is validly formed in ance with state law, recording is not required nor necessary. However, for extra peace of mind, you may choose to record your Certificate of Trust with the county clerk's office in order to protect it from unauthorized changes or access.
Wills and probate proceedings are public, which means anyone can view the details of your assets and beneficiaries. Trusts are not on the public record, which means no one will have access to those personal details.
To create a living trust in Texas, you must find a licensed attorney familiar with the laws of trusts in Texas. The attorney will advise you on how best to manage your property through the trust and help you develop a document that outlines your wishes.
Unlike a corporation, which is required to file a certificate of formation with the Secretary of State, there is no such requirement for a trust. Rather, the trust remains a private document.
Under the Texas Statutes, requirements for creating a trust include that the trustor is of sound mind, the trustee act in the best interest of the beneficiaries, and that some consideration, which means money or property, is included in the trust.
What are the Requirements for a Trust to be Valid? There must be clear intent to create a Trust by the Settlor. The Settlor must own property or assets to be transferred to the Trust at the time of its creation. The Trust must be created for legal purposes.
(b) A certification of trust may be signed or otherwise authenticated by any trustee. (c) A certification of trust must state that the trust has not been revoked, modified, or amended in any manner that would cause the representations contained in the certification to be incorrect.
A certification of trust provides information regarding the settlor of the trust, the acting trustee, and the power and authority of the trustee to manage and invest trust property or to act with respect to a specific transaction.