Establishing a trust is one of the most powerful steps you can take to protect your assets, minimize taxes, and ensure your family’s future is secure. At The Kumar Law Firm PLLC, we provide experienced, personalized guidance to individuals and families throughout Austin, Texas, who want to incorporate trusts into their estate plans. Whether you’re looking to avoid probate, provide for a loved one with special needs, or structure the distribution of your wealth, our firm is here to help you create a trust that meets your goals and complies with Texas law.

What Is a Trust?

A trust is a legal arrangement where one party (the grantor) places assets under the care of another (the trustee) for the benefit of a third party (the beneficiary). Trusts can be highly customizable and are used for a variety of purposes, including:

  • Managing assets during your lifetime
  • Controlling how and when your heirs receive inheritance
  • Reducing or avoiding estate taxes
  • Protecting assets from creditors
  • Providing for a family member with special needs
  • Supporting charitable causes

Unlike wills, many trusts take effect immediately upon creation and can provide benefits both during your life and after your passing.

Types of Trusts Commonly Used in Texas

At The Kumar Law Firm PLLC, we help clients in Austin establish a wide range of trusts, such as:

Revocable Living Trusts

Also known as inter vivos trusts, these allow you to maintain control over your assets during your lifetime. You can generally amend or revoke the trust at any time. Upon your death, the assets may pass to your beneficiaries without the need for probate.

Irrevocable Trusts

These trusts generally cannot be altered once established. Irrevocable trusts may offer tax advantages or protect property from creditors or lawsuits by removing assets from an individual’s taxable estate.

Special Needs Trusts

Designed to provide financial support to a loved one with a disability without disqualifying them from receiving government benefits like SSI or Medicaid.

Charitable Trusts

Used to donate assets to charitable organizations, these trusts can offer tax deductions and help fulfill your philanthropic goals.

Testamentary Trusts

Created through a will, testamentary trusts go into effect only after an individual’s death. They are commonly used to manage inheritances for minor children or beneficiaries who may not be ready to handle a large lump sum.

Benefits of Creating a Trust in Texas

In Texas, probate can be a lengthy and expensive process. A properly funded trust may help:

  • Avoid probate and reduce court involvement
  • Maintain privacy, as trusts generally do not become public records
  • Minimize estate taxes and administrative costs
  • Control how assets are distributed, even years after an individual’s passing
  • Protect assets from creditors, lawsuits, or financial mismanagement

Common Mistakes to Avoid

While trusts can offer significant benefits, improperly drafted or unfunded trusts can create complications. Common pitfalls include:

  • Failing to transfer ownership of assets to the trust
  • Using outdated or vague language that does not reflect your current wishes
  • Choosing an unqualified trustee
  • Ignoring tax implications
  • Not updating the trust as circumstances change

Because of this, it is critical to work with an experienced trusts attorney who understands both Texas estate law and your unique goals.

Why Choose The Kumar Law Firm PLLC?

At the Kumar Law Firm PLLC, we understand that estate planning is deeply personal. Attorney Sanjeev Kumar takes the time to understand your family dynamics, financial situation, and long-term objectives to create a trust that works for you. Our Austin-based firm has extensive experience helping clients protect their assets, reduce taxes, and leave a legacy for the next generation.

We are committed to transparency, education, and long-term planning strategies. Whether clients are building an estate plan from scratch or updating an existing trust, we endeavor to help our clients make informed, confident decisions every step of the way.

Schedule a Trust Consultation Today

Contact us today to schedule a personalized consultation and begin securing your legacy with confidence.