[TX] Do I need to file a revocable living trust with the government, and when should I transfer property into it?

TX Estate Planning

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You do not need to file a revocable living trust with any government agency. It is a private document that only becomes relevant if it needs to be used later. (TX Prop § 112.001)

You should transfer your assets into the trust as soon as reasonably possible, because anything not retitled will not be controlled by the trust if something happens to you. (TX Prop § 112.005) There is no strict deadline, but delays defeat the purpose of setting it up in the first place. Start with your real estate and financial accounts since those are usually the most significant and time sensitive.

A good next step is to contact your bank and county recorder this week to begin the transfer process so your trust is actually funded.

I hope I was able to help resolve your issue! If you have any other questions, feel free to ask.

Texas Living Trust Form (Revocable)

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I created a revocable living trust document.

Am I required to file the document with any government entities.
How quick do I need to transfer our deeds from our personal names to the name of the trust.

Lexi, Chatbot

I understand that managing a revocable living trust can be complex. Have you already transferred any assets into the trust?

Not yet.

Lexi, Chatbot

Are you aware of the specific assets you plan to include in the trust?

Yes.

Legal Eagle

Hello, I'm Legal Eagle. I'm an attorney who works in your area of law and I'll help you sort this out today. I've read what you shared, so let's go over what's happening and what your best next steps look like. Have you considered which assets you plan to transfer into the trust first?

Yes. Our primary home, rental home, bank accounts, business interest, and investment accounts.

Legal Eagle

Could you let me know which state you're in? This will help me provide more specific guidance.

I am in Texas if that changes anything. Regarding the funding, do we set up a separate account named in the trust? In the event of our passing, do the bank accounts automatically go to the trust account?

Legal Eagle

You do not need to file a revocable living trust with any government agency. It is a private document that only becomes relevant if it needs to be used later. (TX Prop § 112.001)

A good next step is to contact your bank and county recorder this week to begin the transfer process so your trust is actually funded.

I hope I was able to help resolve your issue! If you have any other questions, feel free to ask.

Legal Eagle

133,377 satisfied customers

Criminal law, employment law, family law, landlord-tenant, and real estate law.

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