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Categories Trusts & Estate Planning, Wills

Pour-Over Wills: The Hidden Gem of Texas Estate Planning

Author swb Categories Trusts & Estate Planning, Wills Posted on

Pour Over WillsAre you a Texan looking to secure your legacy? Let’s talk about a lesser-known but powerful tool in estate planning: the pour-over will. This legal document could be the secret ingredient to ensuring your final wishes are carried out smoothly and efficiently.

What Is a Pour-Over Will?

A pour-over will is a special type of will that works in tandem with a living trust. It acts as a safety net, catching any assets that you might have forgotten to transfer into your trust* during your lifetime. Essentially, it “pours” these leftover assets into your trust upon your death, ensuring everything is distributed according to your trust’s instructions.

Why Texans Should Consider a Pour-Over Will

1. Simplicity and Organization
With a pour-over will, you can rest easy knowing that all your assets will end up in one place – your trust. This simplifies the administration of your estate and reduces the chance of assets slipping through the cracks.

2. Privacy Protection
Unlike traditional wills, which become public record during probate, a pour-over will keeps the details of your asset distribution private. Only the existence of the trust is made public, not its contents.

3. Flexibility During Your Lifetime
You can continue to manage and use your assets freely while you’re alive. The pour-over will ensures that anything you haven’t transferred to your trust by the time of your death will still be included in your overall estate plan.

How to Set Up a Pour-Over Will in Texas

1. Create a living trust
2. Draft a pour-over will with an experienced attorney
3. Regularly review and update both documents

Remember, while a pour-over will can be a valuable tool, it’s most effective when used as part of a comprehensive estate plan tailored to your specific needs and circumstances. Don’t let your hard-earned assets fall into limbo. Consider adding a pour-over will to your Texas estate plan and pour yourself a tall glass of peace of mind.

The Estate Planning team at SWB, headed by Mr. Michael Weaver, can help you secure your legacy and provide peace of mind for yourself and your loved ones.

Contact us today for a free 30-minute consultation.

* The terms living trust and revocable trust are often used interchangeably, but there is a subtle difference:

  • A living trust (also called an inter vivos trust) is any trust created and funded during the grantor’s lifetime. Living trusts can be revocable or irrevocable.
  • A revocable trust is a specific type of living trust that the grantor can change or revoke at any time during their life. A revocable trust is always a living trust, but a living trust can be either revocable (changeable) or irrevocable (cannot be changed).
Categories Around Town, Attorney Accolades, Business Law, Congratulations, Construction Law, Litigation

SWB’s Jacob D. Thomas Named “Best of D” 2025 by D Magazine

Author swb Categories Around Town, Attorney Accolades, Business Law, Congratulations, Construction Law, Litigation Posted on

Attorney Jacob Thomas named Best of D 2025Jacob D. Thomas, partner at Saunders, Walsh & Beard, is being honored as “Best of D” 2025 for Construction & Business Litigation by D Magazine. Board Certified in Construction Law by the Texas Board of Legal Specializations, Jacob represents owners, general contractors, subcontractors, engineers, and suppliers in a broad range of disputes arising from commercial and residential construction projects.

Mr. Thomas emphasizes preparedness and draws on his knowledge and experience to formulate an approach that focuses on achieving his client’s goals as efficiently and effectively as possible. From the start of the case until its resolution, Mr. Thomas communicates with his client and offers him or her appropriate and useful guidance to enable his client to make informed decisions.

As a mediator, Jacob resolves conflicts involving commercial construction, residential construction, partner/shareholder litigation, and general business disputes. Jacob is one of only a handful of mediators based in Collin County focusing solely on commercial litigation.

In recognition of his ethical standards and exceptional results, Mr. Thomas has an Avvo “Superb” rating and an AV rating from Martindale, Texas Super Lawyers Rising Star (2015-2018), and Texas Super Lawyer (2020-present).

If you are facing challenges in construction or business litigation, don’t navigate these complexities alone. Contact Jacob D. Thomas today and discover how his expertise can help you achieve your goals efficiently and effectively. Visit Saunders, Walsh & Beard or call us at 214-919-3555 to get started.

Categories Trusts & Estate Planning

Don’t Let Your Texas Living Trust Become an Empty Shell

Author swb Categories Trusts & Estate Planning Posted on

Don’t Let Your Texas Living Trust Become an Empty Shell
The Critical Importance of Proper Funding

You’ve taken the smart step of creating a living trust in Texas to protect your assets and provide for your loved ones. But here’s a crucial fact many overlook: a living trust is only as effective as the assets you put into it. Failing to fund your trust fully can leave your estate plan with dangerous gaps, potentially negating many of the benefits you sought to achieve.

The Pitfalls of an Underfunded Trust

Probate Perils
The primary purpose of a living trust is to avoid probate, but this only works for assets actually transferred into the trust. Any assets left out may still need to go through the time-consuming and potentially costly probate process, defeating a key advantage of your trust.

Loss of Control
If you become incapacitated, only the assets in your trust can be managed according to your wishes by your chosen successor trustee. Unfunded assets may require a court-appointed guardian, limiting your family’s flexibility.

Tax Troubles
Proper trust funding is essential for maximizing tax benefits. An underfunded trust may lead to unexpected tax liabilities for your estate and heirs.

Family Friction
Discrepancies between your trust document and unfunded assets can create confusion and potentially lead to disputes among your beneficiaries.

Anonymity
Having all of your assets owned in your personal name makes it easy for creditors and potential plaintiffs to find your exempt property. Using your living trust as an anonymity shield can be your first line of defense against third-party liability.

Estate Planning Experts at SWB

Don’t let your living trust leave your family with that hollow feeling! We will help you “fund your trust” by moving your assets from their current ownership into your living trust. The Estate Planning team at SWB, headed by Mr. Michael Weaver, can help you secure your legacy and provide peace of mind for yourself and your loved ones.

Contact us today for a free 30-minute consultation.

Categories Trusts & Estate Planning, Wills

Why Everyone Should Consider a Living Trust

Author swb Categories Trusts & Estate Planning, Wills Posted on

TRUSTS

NOT JUST FOR THE WEALTHY

Saunders, Walsh & Beard Estate Planning Team

A majority of people think that estate planning documents, such as trusts, are only for high-wealth individuals or families. As such, they might not often think about creating a trust, but there are still several reasons why having one could be beneficial, even on a smaller scale. Here are a few:

  1. Asset Protection: A trust can help protect personal assets from creditors or other legal claims. This can be especially important if the individual faces financial hardship or legal challenges.
  2. Medicaid Planning: For individuals who are aging or facing significant health issues, a trust can be used to help protect assets while qualifying for Medicaid or other public assistance programs.
  3. Avoiding Probate: When someone passes away, their estate typically goes through probate, which can be a long and expensive process. A trust can help bypass this, allowing for a smoother transfer of assets to heirs or beneficiaries.
  4. Ensuring Financial Support for Dependents: Even if someone has limited assets, they may want to ensure that dependents (like children, aging parents, or a spouse) are taken care of if something happens to them. A trust can specify how assets are distributed and ensure that those dependents are supported, even if the person has little wealth.
  5. Control Over Distribution: With a Trust, an individual can specify exactly how and when their assets are distributed, which can be helpful if they have specific wishes, such as a gradual distribution to avoid making beneficiaries too wealthy too quickly.
  6. Increased Financial Stability: For individuals with a modest income but some assets (e.g., a small home, life insurance policy, or savings), a trust can offer a way to manage and preserve wealth for the future, helping ensure that they leave something behind for loved ones.

Ultimately, a Trust can provide peace of mind for individuals, regardless of income, knowing their wishes will be honored and their assets protected. Our Estate Planning experts at Saunders, Walsh & Beard look forward to discussing this with you. To see what type of Trust would be best for your situation, give us a call today.

Categories Trusts & Estate Planning, Wills

Advantages of a Trust over a Will in Texas

Author Rosemary Weiland Categories Trusts & Estate Planning, Wills Posted on

Estate Planning Attorney Near Me

When it comes to estate planning in Texas, trusts offer several advantages over wills. Here’s why you might consider using a trust instead of a will:

Avoiding Probate

One of the most significant benefits of a trust is that it allows your heirs to avoid the probate process entirely. This can save them considerable time and money, as they won’t have to wait for approval from the probate court to inherit property. In contrast, a will must go through probate, which can be time-consuming and costly.

Enhanced Privacy

Unlike wills, which become public record once entered into probate, trusts remain private documents. This means that the details of your estate and beneficiaries are not accessible to the public, protecting your family’s privacy.

Flexibility in Asset Distribution

Trusts allow for more sophisticated asset distribution plans. You can specify conditions for asset distribution, such as beneficiaries reaching a certain age or achieving specific milestones. This level of control is typically not possible with a will.

Protection in Case of Incapacity

A trust can offer protection if you become disabled or incapacitated. By designating a trustee, your assets can be managed on your behalf, and your family can access them immediately. Wills generally do not provide this capability.

Reduced Potential for Disputes

Trusts are much more difficult to contest in court compared to wills. This can help avoid expensive and unnecessary fights among beneficiaries, ensuring your wishes are followed after your passing.

Special Needs Planning

If you have an heir with special needs, a trust can be particularly beneficial. It allows you to provide for them without disqualifying them from receiving important government benefits, which could happen if assets were left to them directly through a will.

Control Over Asset Distribution

With a trust, you can maintain control over how and when your assets are distributed. This is particularly useful in situations involving blended families or when you want to ensure responsible management of inherited assets.

While establishing a trust may be more complex and costly upfront than drafting a will, the long-term benefits often outweigh these initial drawbacks. Trusts provide a more flexible, efficient, and private means of managing and distributing your assets after your death, making them an optimal choice for many Texans.

Remember, while trusts offer many advantages, it’s essential to consult with an experienced estate planning attorney to determine the best approach for your specific circumstances and ensure your estate planning documents are properly prepared and legally sound. Mr. Michael A. Weaver, Partner at Saunders, Walsh & Beard, specializes in estate planning law. Call us today to schedule your consultation with Mr. Weaver.

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