What is a Simple Trust? - Whitney L. Thompson

BSPE Legal Marketing Podcast

Вміст надано Viktoria Altman. Весь вміст подкастів, включаючи епізоди, графіку та описи подкастів, завантажується та надається безпосередньо компанією Viktoria Altman або його партнером по платформі подкастів. Якщо ви вважаєте, що хтось використовує ваш захищений авторським правом твір без вашого дозволу, ви можете виконати процедуру, описану тут https://uk.player.fm/legal.

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From The Law Office of Whitney L. Thompson, PLLC – Understanding the basics of a simple trust is essential for effective estate planning. In this episode, we explore 'What is a Simple Trust?' and how it functions under Texas trust laws. Simple trusts provide a structured way to distribute income to beneficiaries while preserving assets for future use. Whether you are considering a trust for tax efficiency or to avoid probate, knowing how these trusts operate can help you make informed financial decisions.

Our Houston trust attorneys discuss the key characteristics that define a simple trust, including mandatory income distribution, the prohibition of principal withdrawals, and restrictions on charitable contributions. We also break down the tax implications for both the trust and its beneficiaries, highlighting how income is reported and taxed under IRS regulations. With careful planning, a simple trust can offer a cost-effective way to manage assets while ensuring beneficiaries receive their intended inheritance.

Estate planning is not just about financial protection—it’s about creating a secure future for your loved ones. We cover the benefits of simple trusts, from shielding assets against creditors to maintaining control over distributions. The Law Office of Whitney L. Thompson, PLLC in Houston provides insight into how a simple trust compares to complex trusts and how each structure impacts estate administration and taxation.

If you're considering setting up a trust, our attorneys can guide you through the process to ensure it aligns with your financial goals. Contact The Law Office of Whitney L. Thompson, PLLC at (281) 214-0173 to schedule a consultation. Tune in to learn how a well-structured trust can provide long-term financial security and peace of mind for you and your family.
The Law Office of Whitney L. Thompson, PLLC
4201 FM 1960 Road West, Suite 360, Houston, TX 77068, United States
(281) 214-0173
https://www.google.com/maps?cid=9428708165305469162

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