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Choose a document you want to upload from the computer or integrated cloud storage (Box, Google Drive, or OneDrive).
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How to Share Living Trust

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In this video, estate planning attorney Paul Rabale discusses whether married couples should establish one joint trust or two separate trusts to help their survivors avoid the costly and time-consuming probate process after death. He explains that many married individuals seek to prevent their spouses, children, and other loved ones from facing the court and attorney involvement required to access assets in a deceased person's name. Rabale aims to examine the implications of forming a joint trust versus individual trusts, highlighting the goal of simplifying the transfer of assets and minimizing legal hurdles for heirs.

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Got questions?

Here are some common questions from our customers that may provide you with the answer you're looking for. If you can't find an answer to your question, please don't hesitate to reach out to us.

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What are the disadvantages of a living trust?

Some of the Cons of a Revocable Trust Shifting assets into a revocable trust wont save income or estate taxes. No asset protection. Although assets held in an irrevocable trust are generally beyond the docHub of creditors, thats not true with a revocable trust.

Can a trust fund have multiple trustees?

A trustee manages and distributes assets in a trust. A trustee can be is an individual or a financial institution. At times, clients may choose to name two or more individuals as co-trustees in their trust document to perform these duties together.

Can a trust fund have multiple beneficiaries?

Trusts can have more than one beneficiary and they commonly do. In cases of multiple beneficiaries, the beneficiaries may hold concurrent interests or successive interests.

What are the disadvantages of joint trust?

There are some drawbacks though. For example, a Joint Trust may not offer asset protection in cases of creditors or judgements against either spouse. Because everything is in one Trust, all assets would be vulnerable to judgements. Another possible disadvantage could be a lack of flexibility after one spouses death.

Can multiple people contribute to a trust?

You can decide how the funds in the trust will be invested and multiple people can contribute to a trust for a particular beneficiary.

How do I contribute money to a trust?

How to Fund a Trust: Bank Accounts and Other Financial Accounts Contact your bank to see whats required to transfer your accounts to the Trust. Your bank will provide any necessary forms. Complete, sign and return forms to your bank. Have the bank change the title to the Trustee of the Trust.

Can a trust have multiple settlors?

Yes, the settlor of a trust may also be a trustee. A trust may also have more than one settlor and more than one trustee. This is a common arrangement, for example, when married couples create a trust together.

What is a share trust?

Equity trusts (also known as share trusts) allow you to invest in a wide range of shares listed on a stock exchange by pooling your money with other peoples money. The aim of an equity trust is usually to provide a medium level of income and long term growth. A wide variety of equity trusts are available.

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