by Keith Hajovsky | Jan 17, 2024 | General Estate Planning, Living Trusts, Testamentary Trusts, Trusts
Testamentary trusts are powerful estate planning tools that every estate planning attorney should discuss with their clients. When most people think of trusts, they think of something that is completely separate from a will. A testamentary trust is actually a trust...
by Keith Hajovsky | Dec 6, 2023 | Asset Protection, General Estate Planning, Testamentary Trusts, Trusts
Although you cannot create a trust for yourself with the goal of asset protection, you can create a trust for someone else with asset protection in mind. And these protections can come in two forms. The assets can be protected from potential poor money management...
by Keith Hajovsky | Nov 1, 2023 | Asset Protection, Testamentary Trusts, Trusts, Wills
Someone recently asked me: What is a testamentary trust? A testamentary trust is a trust that is spelled out in your will. However, it does not actually become a legal, functioning trust until after you pass away and your will is probated. At that time the trust...
by Keith Hajovsky | Oct 4, 2023 | Asset Protection, General Estate Planning, Living Trusts, Trusts
Many people wonder if they can create a living trust for themselves in order to protect their assets. In Texas you cannot do this as long as you have direct control over the assets. If you created an irrevocable living trust, then you could have asset protection due...
by Keith Hajovsky | Aug 23, 2023 | Asset Protection, General Estate Planning, Trusts
Estate planning is important for everyone whether they have children or not, but having the right documents, like a special needs trust, in place is perhaps even more important for people who have a special needs child. If a parent of a special needs child does not...
by Keith Hajovsky | Jul 26, 2023 | Asset Protection, General Estate Planning, Living Trusts, Trusts
A living trust in Texas is advertised all the time as a “must have” estate planning tool, but unfortunately many of these trust products are simply scams. It’s gotten so bad that the Texas Bar put out a pamphlet titled LIVING TRUST SCAMS AND THE SENIOR...
