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A Trust (or Marital Trust) Heres how it works: At the time of death, trust-owned assets are transferred to a trust for the benefit of the surviving spouse, essentially allowing estate taxes to be delayed until the second spouses death.
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.
You can create a living trust through two different ways: you can hire an attorney or you can use an online program. Hiring an attorney will cost you more than $1,000. If you choose to use the DIY approach, youll spend a few hundred dollars.
Living Trusts in Kansas The settlor places assets into the trust and chooses a trustee. The trustee can be anyone, but cannot be the only beneficiary of the trust. Many people name themselves to be trustee and select a successor trustee to manage the trust after death.
Yes. A married couple can typically create a joint trust agreement, naming themselves as co-trustees. Under this arrangement, the married couple will own the trust assets during their lifetimes.
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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.
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.
Heres a good rule of thumb: If you have a net worth of at least $100,000 and have a substantial amount of assets in real estate, or have very specific instructions on how and when you want your estate to be distributed among your heirs after you die, then a trust could be for you.
Assuming you have no creditor concerns, both spouses want all the assets to go to the surviving spouse, and state death tax will not be an issue, a joint trust may be the way to go, for several reasons: A joint trust is easier to fund and maintain during the couples lifetime.
Simply put, the primary goal of a will is to distribute your estate, the primary goals of a trust are to distribute your estate, reduce estate taxes and avoid probate whenever possible.

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