Trusts

Trust Attorney in Tyler, TX

A Trust Attorney with a Real Estate Broker’s Background

Michael D. Franks holds a real estate broker’s license and an architecture credential alongside his law degree. That combination is directly relevant when your trust involves property, a family business, or long-term asset management. For Tyler families with real estate or business interests, it changes how the planning conversation goes from the very first meeting.

At FC Law, PLLC, you work directly with Michael from your first call through document execution. There’s no handoff to a paralegal or a junior associate. Most of the process can be handled remotely, which makes it straightforward to move forward on your schedule. The only step that requires an in-person meeting is notarization.

Whether you need a revocable living trust to avoid probate, an irrevocable trust for asset protection, or guidance on funding a trust you already have, we can walk you through the options and handle the documents. Start with a free 15-minute consultation to see whether a trust makes sense for your situation.

Ready to talk through your trust options in Tyler? Call (903) 226-7232 to schedule a free consultation.

What Is a Trust?

A trust is a legal arrangement in which a grantor transfers property or assets to a trustee to manage for the benefit of one or more beneficiaries. The terms of the trust document govern how those assets are managed, when they are distributed, and to whom. Trusts are flexible tools that serve a wide range of goals, from avoiding probate to providing for a child with special needs.

In Texas, a trust document must be signed before a notary public to be valid. Unlike a will, a trust doesn’t need to go through probate court to take effect, and Texas doesn’t require trusts to be registered with the state. That combination of privacy, flexibility, and probate avoidance is why trusts are one of the most useful tools in estate planning.

Types of Trusts in Texas

Texas law recognizes several types of trusts, each designed for different goals and circumstances. The right choice depends on your assets, your family situation, and how much control you want to retain during your lifetime.

Revocable Living Trust

A revocable living trust lets you, as the grantor, maintain full control over your assets while you’re alive. You can modify or revoke it at any time. When you die, the assets in the trust pass directly to your named beneficiaries without going through probate, keeping the distribution private and avoiding court delays.

Irrevocable Trust

Once an irrevocable trust is signed, it generally can’t be changed or revoked. Assets transferred into it are removed from your taxable estate, which can reduce estate tax exposure and shield them from creditors. Irrevocable trusts are commonly used for Medicaid planning, high-value asset protection, and long-term tax planning.

Testamentary Trust

A testamentary trust is created inside a will and only takes effect after the testator’s death. It’s often used to manage assets for minor children or other beneficiaries who need structured distributions over time rather than a lump-sum inheritance. Because it operates through a will, a testamentary trust does go through probate before it becomes effective, and it’s often paired with guardianship provisions when minor children are involved.

Trust vs. Will: Which One Do You Need?

A will and a trust both direct how your assets are distributed after you die, but they work very differently. A will must go through probate, which is a public, court-supervised process that can take months. A revocable living trust avoids probate entirely, so distributions happen faster and the terms of your estate stay private.

There’s another important difference: a trust can manage your assets if you become incapacitated during your lifetime. A will has no power until you die. For anyone who wants to address incapacity planning alongside inheritance planning, a trust fills a gap that a will simply can’t.

Many people use both. A pour-over will can transfer any assets left outside the trust into it at death, catching anything that wasn’t retitled during your lifetime. During a free 15-minute consultation, we can help you figure out which combination makes sense for your situation.

Special Needs Trust

A special needs trust allows you to leave assets for a beneficiary with a disability without disqualifying them from government benefits like Medicaid or Supplemental Security Income (SSI). The trust holds and distributes funds in a way that supplements public benefits rather than replacing them, preserving both the inheritance and the beneficiary’s access to essential programs.

Charitable Trust

A charitable trust lets you direct a portion of your estate to a nonprofit organization or cause while potentially reducing your estate tax liability. Charitable remainder trusts and charitable lead trusts are both available under Texas law and can be structured to balance giving with your family’s financial goals.

How Does Funding a Trust Work?

Creating a trust document is only the first step. For the trust to do its job, you need to fund it by retitling assets into the trust’s name. A trust that isn’t properly funded provides none of the benefits it was designed to deliver, and any assets left outside it at your death may still go through probate.

Funding typically involves recording a new deed to transfer real estate, re-titling bank and investment accounts, and updating beneficiary designations for retirement accounts and life insurance policies. Michael’s background as a licensed real estate broker makes him well-suited to help clients work through the property transfer side of this process. Most of the coordination can be handled remotely, with notarization completed in person.

We can help you inventory your assets, identify what needs to be transferred, and work through the paperwork so your trust functions as intended for your family and beneficiaries.

Trust Administration in Texas

When a grantor dies, the named successor trustee steps in to manage and distribute trust assets according to the trust document. This process, called trust administration, takes place outside of court, which is one of the key advantages a trust has over a will going through probate.

The trustee’s duties typically include notifying beneficiaries, inventorying and valuing assets, paying outstanding debts and taxes, managing investments during the administration period, and distributing assets per the trust terms. Under Texas law, the trustee owes a fiduciary duty to act in the beneficiaries’ best interests and follow the trust document precisely. Missteps can create personal legal liability.

If you’ve been named as a trustee, we can explain your obligations and help you move through the process correctly. If you’re creating a trust and want to make the job easier for whoever you name as successor trustee, we can draft documents that are clear and practical to administer.

Advantages of Establishing a Trust

Setting up a trust can offer several meaningful advantages:

Probate avoidance. Trust assets transfer directly to beneficiaries without a court process, saving time and keeping your estate private.
Asset protection. Certain trusts can shield property from creditors and legal judgments, preserving more of your wealth for your family.
Incapacity planning. A successor trustee can manage your assets if you become unable to handle your own financial affairs, without requiring a court-ordered guardianship.
Privacy. Trust terms don’t become public record the way a will does during probate.
Tax planning. Some trust structures can reduce estate tax exposure and help more of your assets reach your beneficiaries.

Do You Need a Trust?

A trust makes the most sense when you own real estate, have business interests, want to keep your estate private, need to provide for a minor child or a family member with special needs, or want your assets to avoid probate. Owning property in multiple states is another strong reason to consider one, since a properly funded trust can prevent the need for separate probate proceedings in each state.

Not every estate requires a trust. Simpler estates with straightforward assets are sometimes well-served by a well-drafted will combined with beneficiary designations. During a free 15-minute consultation, we can review your situation and give you a clear answer on whether a trust belongs in your plan.

Why Work with FC Law, PLLC?

Michael D. Franks brings credentials most trust attorneys don’t have: a real estate broker’s license and an architecture credential alongside his law degree. That background is directly applicable when your trust involves property, a family business, or long-term asset management. He’s also started multiple companies, which gives him firsthand experience with the ownership and succession planning decisions that business owners face.

As a solo practitioner, Michael handles every client matter himself. You won’t be handed off to support staff or a junior attorney. Most of the process is handled remotely, which means you can move forward without multiple in-office visits. The only step that requires you to be present is the notarization of your trust documents.

We offer a free 15-minute consultation, competitive pricing, and a straightforward process with clear communication at every step. If you have questions about trusts or want to talk through your options, reach out and we’ll give you honest answers with no pressure.

Don’t leave your family’s future to chance. Call (903) 226-7232 or contact us online to get started. Se habla español.

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