In an age of social media advice, estate planning tips are everywhere. TikTok videos and online legal forms often pitch simple solutions to complicated questions, but Farren Sheehan, founder of Sheehan Law, said one-size-fits-all advice can create problems families do not discover until it is too late.
“People don’t know what they don’t know,” Sheehan said. “You wouldn’t walk into a pharmacy and grab a random bottle off the shelf hoping it cures your ailment. DIY legal advice online is the exact same risk—if you’re wrong, you could be very wrong.”
Here are two common misconceptions Sheehan encounters and what Texas families should know instead.
Myth 1: A trust is the key to protecting your assets from everything
Revocable living trusts are often promoted as a way to avoid taxes, protect assets from lawsuits and skip probate, but Sheehan said those benefits are frequently overstated.
“There are all kinds of trusts, for example, charitable trusts, pet trusts, gun trusts and trusts for descendants,” Sheehan said. “A trust is simply a contract to hold assets for someone’s benefit. The question isn’t whether trusts are good or bad. It’s whether the type of trust you’re creating actually accomplishes what you need it to.”
A revocable living trust does not protect assets from personal lawsuits or creditors. It does not reduce taxes. The biggest benefit is avoiding probate. However, a trust must be managed properly to do that. The trust must be properly funded. If accounts or property are never titled in or directed to the trust, those assets may still have to go through probate after the owner dies.
Sheehan also cautions homeowners against transferring a residence into a trust without understanding how it could affect Texas homestead protections or long-term care planning.
When can a trust make sense?
For the right family, a trust can be a valuable tool.
Sheehan recommends considering one for people who own property in another state, which could otherwise require their family to navigate probate in more than one state. Trusts can also offer greater control for blended families, second marriages and complicated inheritance situations while keeping certain estate matters private.
The key is choosing a trust because it solves a specific problem—not simply because someone online said everyone needs one.
Myth 2: Adding a spouse or partner to a home deed is the best way to protect them
This mistake often starts with good intentions.
Someone who owned a home before a marriage or relationship may add a spouse or partner to the deed as a sign of commitment or to ensure their spouse or partner is protected, but Sheehan said changing the deed also changes legal ownership of the property.
If the new co-owner faces creditor problems, a breakup or divorce, their ownership interest can be reached by that creditor. Problems can also arise after death if there is no estate plan outlining what should happen to the home.
Sheehan has seen this firsthand. In one case, a woman had fully paid for her home before adding her husband to the deed. After he died without a will, part of his ownership interest ultimately passed to several relatives the woman had never met. Now she shares her home ownership with strangers.
“You don’t want what you’ve worked and struggled for to disappear because you were trying to be kind,” Sheehan said.
How can homeowners protect a loved one instead?
Adding someone to a deed is not the only way to ensure they are cared for later.
Depending on the circumstances, Sheehan said homeowners may use a will, trust or transfer-on-death deed to determine what happens to the property after death while maintaining control during their lifetime.
Unmarried couples purchasing property together may also benefit from a cohabitation agreement outlining what happens if the relationship ends.
Why work with an estate planning attorney?
Estate planning is rarely one-size-fits-all. A decision that works for one family may create unintended consequences for another depending on property ownership, relationships, finances and long-term goals.
Sheehan encourages people to ask questions before relying on a document or strategy found online. At Sheehan Law, the goal is to understand what a client wants to protect, then determine which tools—from wills and trusts to property planning—best accomplish that goal under Texas law.
An attorney can also identify issues people may not know to ask about, helping ensure documents are properly prepared, assets are handled as intended and loved ones are not left with avoidable legal complications.
Sheehan Law offers consultations and educational opportunities to help families understand their options before a crisis forces them to make decisions quickly.
Ready to get started?
Attend an upcoming community seminar or schedule a consultation with Sheehan Law by calling 512-251-4553 or visiting farrensheehanlaw.com.
Frequently asked questions
Does a revocable living trust protect assets from lawsuits and creditors?
A revocable living trust does not protect assets from personal lawsuits or creditors. Different trusts serve different purposes, so the right structure depends on a person’s goals and circumstances.
Can a trust help avoid probate in Texas?
A properly structured and funded trust can allow certain assets to pass outside probate. Assets never transferred or directed to the trust may still have to go through probate.
When might someone benefit from creating a trust?
Trusts may benefit people who own property in multiple states, have blended families or second marriages, want greater control over inheritance decisions or prefer to keep certain estate matters private.
Should a homeowner add a spouse or partner to the deed?
Adding someone to a deed changes legal ownership and can create unintended consequences involving creditors, divorce, inheritance or probate. Homeowners should understand those effects before changing a property title.
How can someone protect a spouse or partner without adding them to the deed?
Depending on the situation, options may include a will, trust, transfer-on-death deed or cohabitation agreement. An estate planning attorney can help determine which approach best fits the homeowner’s goals.
