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Should a husband and wife have separate trusts?

Depending on state law, managing your marital estate in two separate trusts may offer better asset protection against creditors than joint trusts. Since the innocent spouses assets are in an entirely separate trust, creditors cannot gain access to the funds.

Can husband and wife trustee?

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.

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.

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.

How much does it cost to set up a living trust in Missouri?

The cost of creating a living trust in Missouri can vary widely, depending on several factors. Some people do it with a few hundred dollars using online programs. Others seek the assistance of a lawyer and easily drop more than $1,000.

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