This is a sample Community Trust. Community trusts are joint trusts that are set up by married couples. They allow spouses in non-community property states to enjoy the same benefits as spouses in community property states. This type of trust holds assets that the couple deposits to the trust.
It’s a good idea to consult a lawyer who knows the ins and outs of Texas law to make sure everything is buttoned up right.
Not at all! You and your spouse can easily make changes or even dissolve the trust if your situation changes. Life happens!
Absolutely! You and your spouse can sell or transfer your property, just like before, so you won't be tied down.
One big perk is that it can offer protection from creditors and may simplify the estate planning process. Who wouldn't want a smoother ride?
It allows couples to own and control their community property together, which can make things easier when it comes to managing assets or passing them down to heirs.
Mainly married couples in Texas! If you’re in it for the long haul with your partner, this trust can help you manage your property together.
A Community Property Trust is a legal way for married couples to manage and protect their shared property. Think of it as a safety net for your assets!