Wills | Trusts | Estate Planning | Probate | Guardianship
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Estate Planning
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Protect Your Family's Legacy With Frisco's Experienced Trust Lawyers
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When choosing a trust attorney, you want to partner with someone who prioritizes your specific needs and goals. A skilled attorney can offer valuable guidance through the complexities of estate planning, ensuring that your assets are protected and your wishes are clearly outlined.
Selecting a trust attorney involves finding someone who listens carefully to your concerns, understands your unique situation, and provides clear, actionable advice. Look for an attorney who is committed to creating a personalized estate plan that reflects your desires, whether it’s setting up a trust for asset protection, planning for future health care decisions, or addressing any other legal needs.
“Estate planning isn’t just for the wealthy, it’s for everyone, everyone who wants to protect their family and prepare for the future".”
How Can Our Trust Attorneys in Frisco Help You?
Our experienced team provides personalized estate planning solutions to protect your assets and secure your family's future. At MaryAnn Jones, Attorney At Law, PLLC, we offer expertise in all of the common trust options.
As dedicated Frisco trust attorneys, we bring deep knowledge of Texas estate law and Collin County probate procedures. We understand the specific concerns facing local families and tailor our solutions to your unique situation.
Don't wait until it's too late. Contact our office today to schedule your initial consultation. Our team will help you create a plan that provides peace of mind and protects what matters most.
Most Common Types of Trusts
When planning for the future and managing assets, understanding the various types of trusts can be crucial. Trusts are legal arrangements that allow a person to transfer assets to a trustee, who then manages and distributes those assets according to the terms set out in the trust document. Each type of trust serves a specific purpose and can offer different benefits depending on individual needs and goals.
Testamentary
Testamentary trusts are established through a will and take effect only after the grantor’s death. They are typically used to manage and distribute assets according to the deceased's wishes, providing ongoing financial support to beneficiaries or ensuring that assets are distributed in a controlled manner over time.
Special Needs Trust Attorney
Special needs trusts are designed to provide financial support to individuals with disabilities without disqualifying them from receiving government benefits, such as Social Security or Medicaid. This trust ensures that the beneficiary’s special needs are met while preserving their eligibility for public assistance.
Living
Living trusts, also known as inter vivos trusts, are created during the grantor's lifetime. They allow for the management and distribution of assets while the grantor is alive and after their death. Living trusts can help avoid probate and offer greater flexibility and control over asset distribution.
Charitable
Charitable trusts are established to benefit charitable organizations or causes. They provide a way for individuals to make a philanthropic impact while potentially receiving tax benefits. Charitable trusts can be structured to provide ongoing support to charities or to fulfill specific charitable goals.
Irrevocable
Irrevocable trusts cannot be changed or terminated once established, except under specific conditions. Once assets are transferred into an irrevocable trust, the grantor no longer has control over them, which can provide benefits such as tax savings and asset protection from creditors.
When you’re seeking expert advice on managing and protecting your assets, a trust attorney can provide the guidance you need. Our team of skilled professionals is dedicated to helping the residents of Frisco secure their future and make informed decisions regarding their estate planning. We take pride in our personalized approach, ensuring that your specific needs and goals are met with the highest level of care and attention.
Contact us today to schedule a consultation with our trusted attorneys who can offer you tailored solutions and peace of mind. Let us assist you in crafting a plan that fits your unique situation and helps you achieve your objectives with confidence.
Areas of Practice
Probate refers to the legal process of administering a deceased person's estate. The court reviews the will to determine if it is valid and provides a final ruling on the division and distribution of assets to heirs and beneficiaries based on the will. If a person dies intestate, or without a will, the court divides the estate according to state law. LEARN MORE
A guardianship typically involves the appointment of someone to manage the medical and physical care of a person with limited capacity such as a special needs child or a person with physical or intellectual disabilities. A conservatorship is a court order that appoints someone to oversee the financial affairs of a minor or a person who is incapacitated. One person can serve in both roles. LEARN MORE
A will and last testament form the foundation of an estate plan and are the key instrument used to ensure that the estate is settled in the manner desired by the deceased. While there is more to an estate plan than just a will, it is the presiding document the probate court uses to guide the process of settling an estate. LEARN MORE
Like a will, a trust provides for distribution of assets based on the deceased’s wishes. But unlike a will, a trust can protect assets from creditors and avoid taxes and the cost of probate. It can provide for control and future direction of assets long after the deceased person’s passing. Special needs trusts can permit a disable child or parent to receive income from the trust while still retaining public disability benefits like Medicaid. LEARN MORE
Everyone has an estate, it’s everything you own, your home, your accounts, your cars, and you probably have very specific ideas where and to whom you want your money to go after you pass. Because if you don’t, the state will be very happy to tell you exactly where your money will be going, and you and your heirs may not like it. Take charge of your estate. LEARN MORE
“Someone’s sitting in the shade today because someone planted a tree a long time ago.”
Warren Buffet
About MaryAnn Jones Attorney At Law, PLLC
UCLA graduate and Temple University Beasley School of Law alumna with nearly 30 years of legal practice. As a mother who has experienced the challenges of balancing family life with essential planning, I'm committed to making this process accessible and stress-free for your family.
Our Trust Process
At MaryAnn Jones, Attorney At Law, PLLC, our trust process combines thoroughness with simplicity. Our experience in trust law ensures your estate planning needs are met with precision and care.
Initial Consultation
We begin with a comprehensive meeting, whether at our office or virtually, to understand your unique circumstances and goals. Our lawyer discusses your assets, family dynamics, and long-term objectives to develop a customized trust strategy that protects what matters most to you.
Strategy Development
Based on your consultation, we craft a personalized trust plan that aligns with both Texas law and your specific wishes. We compare various trust options to determine which structures will best protect your legacy and loved ones for generations to come.
Document Preparation
Our experienced trust lawyer carefully drafts all necessary legal documents, ensuring they comply with TX legal requirements. We integrate your trust planning with existing wills and other estate documents for a comprehensive approach to securing your future.
Review and Execution
We meet again to thoroughly review all documents, answer questions, and make any necessary adjustments. Once finalized, we guide you through the proper execution of your trust documents in accordance with state law requirements.
Funding and Administration
We assist with transferring assets into your trust and provide guidance on ongoing trust administration. Our support continues well beyond the signing of documents to ensure your trust operates as intended.
Trust Solutions By Need
Our lawyers create specialized trust solutions for various life situations:
Family Protection Trusts
For families concerned about children's futures, we create trusts that protect assets while ensuring your children's needs are met according to your wishes.
Asset Protection Trusts
Business owners benefit from strategically designed trusts that shield your hard-earned assets while complying with law requirements.
Special Needs Planning
For loved ones with disabilities, we create trusts that maintain eligibility for government benefits while providing supplemental support and care.
Retirement Planning
Our office can establish trusts designed to manage assets during your later years and streamline estate administration after passing, minimizing complications for your heirs.
Frequently Asked Questions:
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Trustees can be individuals, family members, or professional firms. It’s important to choose someone reliable, knowledgeable, and impartial.
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Costs vary depending on the complexity of the trust and the services provided. It’s best to get a detailed fee schedule from potential trust service providers.
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Trusts may have various tax implications, including income tax, estate tax, and gift tax. Consult with a tax advisor to understand how a trust will impact your tax situation.