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Irrevocable Trusts

Irrevocable Trusts Lawyer in Dallas-Fort Worth

An irrevocable trust is an estate planning tool that can be used to protect assets from taxes, provide a secure place for savings, and preserve wealth for future generations. It is also an important tool for probate avoidance. Since an irrevocable trust is not subject to probate, it can be used to prevent delays in the distribution of assets to beneficiaries.

For more information about irrevocable trusts, please contact the attorneys at Crain & Wooley at (972) 945-1610.

Benefits of Irrevocable Trusts

  1. Safeguard Your Assets: Irrevocable trusts offer robust protection, shielding your assets from creditors, lawsuits, and financial risks.
  2. Minimize Estate Taxes: Utilize irrevocable trusts for effective estate tax planning, maximizing wealth transfer to beneficiaries while reducing tax liabilities.
  3. Skip Probate Hassles: With assets held in an irrevocable trust, bypass probate complexities, saving time, costs, and ensuring privacy for beneficiaries.
  4. Secure Medicaid Benefits: Preserve assets from long-term care expenses by transferring them to an irrevocable trust, establishing eligibility for Medicaid benefits.
  5. Maintain Control and Distribution: Specify asset distribution according to your wishes, ensuring managed control beyond your lifetime.
  6. Philanthropic Opportunities: Make a lasting impact through irrevocable trusts, allocating assets for charitable causes you care about.
  7. Special Needs Support: Structure irrevocable trusts to provide ongoing financial assistance for loved ones with special needs, while preserving their government benefits.
  8. Seamless Business Succession: Plan for business continuity by utilizing irrevocable trusts, facilitating smooth ownership transfer to future generations.
  9. Preserve Privacy: Keep financial affairs confidential with irrevocable trusts, safeguarding your family from unwanted public scrutiny.
  10. Legacy Preservation: Establish irrevocable trusts to secure your family's wealth, values, and legacy, ensuring a solid foundation for generations to come.

Can a Beneficiary Be Removed From An Irrevocable Trust in Texas? 

In Texas, it is generally difficult to remove a beneficiary from an irrevocable trust. Once an irrevocable trust is established, the terms and beneficiaries are typically set and cannot be easily changed without the permission of the grantor and all named beneficiaries. However, there may be limited circumstances and jurisdictions where it is possible to terminate an irrevocable trust by agreement. If a beneficiary renounces their interest in the trust and obtains the consent of the other beneficiaries, they may be allowed to exit the trust. It is recommended to consult with a legal professional to fully understand the options and requirements for removing a beneficiary from an irrevocable trust in Texas.

Contact Our Plano Irrevocable Trust Lawyers

Protect your assets, minimize taxes, and secure your legacy. Consult with an experienced Irrevocable Trust Lawyer today. Contact us for personalized solutions and peace of mind.

For more information about irrevocable trusts, please contact the Dallas-Fort Worth attorneys at Crain & Wooley at (972) 945-1610.

Satisfied Clients Tell Their Stories

  • "Very Professional, Thorough and Good Communicators"
    Justin and his staff were very professional, thorough and good communicators. They prepared every doc they committed to, and in a timely manner. I like the lump sum fee arrangement. I would definitely recommend them.
    - Bart Hubbard
  • "We are so grateful we did this."

    We had been wanting to do and understand a trust for a long time. Once we received the meeting invite, the rest was easy. We learned about wills and trusts in an understandable way. Justin and his team are organized, thorough, friendly and helpful. They coordinated and explained each step of the process. We are so grateful we did this. The cost was invaluable. Thank you for everything. 

    - Shelly Torti
  • "Would Definitely Recommend Crain & Wooley"

    We attended a lunch seminar hosted by Shelly Joyner and her team to listen and learn more about our options with Trusts. Based on Shelly's presentation, examples, and knowledge of Trusts, we were sold on Crain & Wooley as the firm to prepare and manage our Trust.

    The Crain & Wooley process from start to finish was fast, efficient and very professional. Throughout the progression, both Shelly and Steve Crosby communicated, answered all our questions, and provided various trust documents through the portal for our review /comments.

    Would highly recommend the services of Crain & Wooley!!

    - Paul & Helen Cherry
  • "Made the Entire Process a Seamless Operation"

    Finding a law firm to assist me in creating a "Living Trust" was very confusing. After interviewing three law firms, I chose Crain & Wooley.

    They got back to me quickly after the initial consultation and made the entire process a seamless operation. 

    I highly recommend and will work with Shelly Joyner and Crain & Wiiley again in the future. 

    - Ricky Ellis
  • "I would return for other legal issues and would highly recommend this firm for legal advice."
    I am very pleased with the professional services of Crain and Wooley law firm with the trust documents formalized on my behalf.  The fees were fair and the result was done in a few weeks. Terms and legal explanations were understood. I would return for other legal issues and would highly recommend this firm for legal advice.
    - Alex Montanez
  • "I had a fantastic experience with your law firm and now I can relax!"
    I had a fantastic experience with your law firm and now I can relax because I have my affairs in order! It was a very easy process, very informative, easy to gather their information and get the awesome result of having all my documents into my trust. Very impressed with the professionalism of Shelly Joiner, Jessica and Steve. I highly recommend this law firm Crain & Wooley for all the estate planning needs. Thank you!
    - Wanda Echevarria
  • "Very Thorough In Explaining My Options"
    Shelly was very thorough in explaining my options in estate planning and reviewing the documents I did have. I appreciate the speed and ease in completing my documents and support in transitioning my home into our living trust.
    - David Smith
  • "We Felt Valued, Cared for and Appreciated"
    It was a pleasure working with Justin Crain, Shelly Joyner, Steve Crosby, and the entire staff at Crain and Wooley. From the moment we walked into their office, we felt valued, cared for and appreciated. Justin took the time to explain to us the benefits of creating a trust and patiently answered all of our questions. My wife and I particularly appreciated their educational emphasis. They provided us with videos and literature that deepened our understanding of the process and purpose of  creating a trust. We never felt any pressure during our meetings with them to purchase any legal products or services. They educated us, encouraged us to ask questions, and let us make our own decision. We did decide to create a living trust, and we are very pleased with the results.
    - William Benninghoff

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Estate Planning With Us Means:
  • Flat-Rate Pricing*

    Finally, you won’t need a lawyer to understand your legal fees. We clearly communicate our pricing structure upfront, so you can feel comfortable with our service from start to finish. No surprises, no hidden fees. *Our flat rate fees apply only to proactive planning services.

  • Optional Lifetime Guarantee
    With our optional lifetime guarantee, your will and trust will be automatically updated over the years to ensure it stays current with best practices, reflects your current wishes and minimizes future confusion for your family.
  • Knowledgeable Service
    Laws change all the time. We stay up to date with all the latest information so that you’re covered. No one else in the region is as dedicated or educated in this area of law. We’re the experts so you don’t have to be.