Providing Experienced Legal Service in North Dallas, TX Area
Taking Care of an Asset
Establishing Trusts Based on Your Goal
Establishing a trust, simply put, is designating someone to take care of your asset or property for the benefit of a third person.
At Judith P. Kenney & Associates, we use trust planning to implement a variety of goals - whether it's for your financial management, disability, as gifts to minors, for creditor protection, education, liquidity, or charity.
Call us today at 972-713-6133
We Offer Legal Assistance on All Kinds of Trusts
Revocable living trusts and transfers of assets to those trusts - for financial management during your lifetime and disposition of your assets in the event of death such as when you create a revocable trust with your spouse, which provides for tax planning trust provisions for the support of your spouse during their lifetime, in addition to the disposition of assets either outright or through irrevocable trusts for children and grandchildren upon your spouse's death
Irrevocable trusts (testamentary or living trusts)
- are used to make gifts to family members, minor children, or charities
Qualified personal residence trusts
- to enable you to remove an asset and reduce the size of your estate upon death for the purpose of reducing the amount of tax
Generation-skipping transfer trusts
- to utilize a tax exemption by planning for gifts to grandchildren
Charitable trusts (charitable remainder trusts, charitable unitrusts or annuity trusts, and charitable lead trusts)
- to provide tax planning or planning for a term or lifetime benefit of family members followed by gifts to charity
Life insurance trusts
- to provide liquidity to pay taxes or to replace a deceased person’s income
Special or supplemental needs trusts
- to preserve governmental benefits while providing qualified benefits for a disabled child
Medicaid Qualifying Trusts
- to assist persons to qualify for Medicaid where the income would be insufficient to provide for care but exceeds the Medicaid limit
Defective trusts (for income tax purposes)
- for transfers that would otherwise incur capital gain
Grantor Retained Annuity Trusts (GRAT)
Miscellaneous trust - such as pet trusts for the care of pets at the owner’s death or gun trusts to qualify gun purchases for Title III guns and other trusts
Disability trusts - such as guardianship management trusts and minor’s trusts for disabled children
Judith P. Kenney & Associates, P.C. provides
legal assistance in the North Texas area. We concentrate in Estate planning, Probate and Guardianship law.
Established in 1995, we are a family-owned firm spearheaded by Judith P. Kenney, who has been working in the area of estate planning for over 25 years and her brother, Nat M. Kenney, III, an attorney/guardian ad litem for guardianship matters.