This form is an irrevocable trust established to provide funds in order to continue a family tradition of giving birthday presents to members of grantor's immediate family and is to continue after grantor's death. The term heirs as used in this trust are those people who would inherit the estate of a deceased person by statutory law if the deceased died without a will. When a person dies without a will, the heirs to their estate are determined under the rules of descent and distribution. The term heirs-at-law is used to refer to those who would inherit under the state statute of descent and distribution if a decedent dies intestate (without a will), and they may or may not be beneficiaries under a will.
Harris Texas Trust is a form of trust established to provide funds specifically for the purchase of birthday presents for members of the Granter's family to continue even after the Granter's passing. This unique trust structure ensures that the family members can still receive thoughtful gifts and celebrate their birthdays, regardless of the Granter's absence. One type of Harris Texas Trust that may be created is the Revocable Harris Texas Trust. In this type of trust, the Granter retains control and can make changes or revoke the trust during their lifetime. This allows for flexibility in managing the funds allocated for birthday presents and ensures that the Granter can make adjustments as needed. Another type of Harris Texas Trust is the Irrevocable Harris Texas Trust. Once established, this trust cannot be modified or revoked by the Granter. It provides a secure and ongoing source of funds for the purchase of birthday presents, guaranteeing that the family members will continue receiving gifts even in the absence of the Granter. The Harris Texas Trust can be tailored to the specific needs and preferences of the Granter's family. The trust document will outline the details, such as the designated beneficiaries, the amount of funds to be allocated, and the specific guidelines for selecting and purchasing birthday presents. This ensures that the intent of the Granter is honored and the family members receive meaningful and desired gifts. The trust may also have provisions for professional management of the funds, ensuring that they are invested wisely and that the purchasing power is preserved over time. This helps to secure the longevity of the trust and its ability to continue providing birthday presents for the Granter's family members. Overall, the Harris Texas Trust serves to create a lasting legacy of love and celebration for the Granter's family. By designating funds specifically for birthday presents and establishing the trust to continue after the Granter's passing, the family can experience continued joy and appreciation for years to come.
Para su conveniencia, debajo del texto en español le brindamos la versión completa de este formulario en inglés. For your convenience, the complete English version of this form is attached below the Spanish version.
