Austin Probate Attorneys

A Living Trust – Keeping Your Property Out of Probate

As more and more people become aware of the hassle and financial cost of probate proceedings, a trend towards more efficient estate planning is becoming apparent. One increasingly common way to keep assets out of probate is by using a living trust.

Establishing a Living Trust

A trust is a legal arrangement which allows a managing party known as the trustee to hold legal title to and control over assets placed “in trust.” The trustee, in turn, is obliged to manage the property and assets for the good of another party, known as the beneficiary. The trust itself is established through a legal document called a Declaration of Trust. In the Declaration of Trust, the settlor, or the person establishing the trust, names a person (or persons) of their choosing as trustee, and another person (or persons) as beneficiary. There are no real limitations on who can be a trustee or beneficiary of a trust; in fact, when establishing a living trust, the settlor will typically name themselves trustee. This has a very obvious benefit – because all property placed “in trust” becomes the legal property of the trustee(s), by naming him or herself as trustee, the settlor is able to place assets “in trust” without losing any control over them.

How a Living Trust Works

A “living” trust simply refers to a trust established before the settlor’s death, as opposed to a trust established through a will. As explained above, when creating a living trust, the settlor will name themselves trustee, which allows him or her to maintain control over any property they place in trust. Virtually nothing else changes, except for the fact that none of the property placed in trust is subject to probate. After the settlor’s death, the successor trustee (also named in the trust document) can easily transfer all the assets in the trust to the beneficiaries through some simple paperwork. The process is much less expensive and usually much faster than going through probate.

If you are worried about the costs of probate, act now to protect the ones your love. Call the Slater & Kennon law firm at 512-472-2431 to speak with an experienced Austin probate lawyer.


Centrally located in the Arboretum area of north Austin, the Slater & Kennon law firm represents clients in Travis County, Bastrop County, Burnet County, Williamson County, and Hays County, including the cities of Austin, San Marcos, Bastrop, Burnet, and Georgetown.