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Can two people have the same trust?

Joint trusts are easier to manage during a couples lifetime. Since all assets are held in one trust, ownership mimics how many couples hold their assets - jointly. Both spouses having equal control of the management of joint assets held by the trust.

What is the point of a marital trust?

A marital trust is an irrevocable trust that lets you transfer a deceased spouses assets to the surviving spouse without incurring any taxes. The trust also protects assets from creditors and future spouses the surviving spouse may encounter.

Do married couples automatically inherit?

Married partners or civil partners inherit under the rules of intestacy only if they are actually married or in a civil partnership at the time of death. So if you are divorced or if your civil partnership has been legally ended, you cant inherit under the rules of intestacy.

Can husband and wife have the same trust?

Joint Trust: Because all assets are inside one trust, sometimes Joint Trusts can make things simpler. While both spouses are living, each has equal control regarding the management of joint assets held in the Joint Trust.

What is the best trust for a married couple?

A joint revocable trust is probably the easiest form of living revocable trusts for a married couple to use. A joint revocable trust merges the estate planning of a couple using a single trust document.

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