Everywhere you look these days, someone is preaching the benefits of a living trust. But if you look behind the preaching you will probably find a salesperson who has the gleam of a commission in his eye.

Living Trusts are established for a variety of reasons, the two most common being the avoidance of probate and the perception of some tax benefit.

In other states avoiding probate may, in fact, be a wonderful thing. But in Texas, our probate system, using an Independent Executor, is so unobtrusive, quick and relatively inexpensive, there is little reason to avoid it. A properly drafted will should appoint an Independent Executor who is given all of the powers required to collect any debts owed to the estate, pay any debts the estate owes and disburse any money to the beneficiaries in accordance with the Testator's wishes. All of this can be accomplished with virtually no court oversight and with minimal expense.

With respect to estate taxes, in Texas a living trust and a will are virtually identical. Most of the tax advantages you can employ in drafting a will can be employed in the living trust, and vice versa. Because the estate tax in Texas follows the Federal exemption limits there are seldom situations in which a living trust has any real advantages over a will.

Consult your attorney to learn the ways you can protect yourself from paying excessive estate taxes. A qualified attorney can draft documents to minimize your estate's tax liability and to make a difficult situation easier on your loved ones.