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Living Trust for Husband and Wife with No Children - New Jersey

Living Trust for Husband and Wife with No Children - New Jersey 2025

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The document is a Revocable Living Trust Agreement created by a Trustor in New Jersey, outlining the establishment and management of a trust. It details the roles of the Trustor, Trustee, and Beneficiaries, including provisions for asset management, trustee powers, distributions during the Trustor's lifetime and after death, and guidelines for handling incapacity. The agreement allows for amendments and specifies legal protections for beneficiaries while ensuring that the Trustor retains control over the trust assets during their lifetime.

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How to use or fill out Living Trust for Husband and Wife with No Children - New Jersey

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Click ‘Get Form’ to open it in the editor.
Begin by entering the date at the top of the document. This is crucial as it marks the official start of your trust.
In Article I, specify the name of your trust. This can be a personal choice, such as 'The Smith Family Revocable Living Trust'.
Proceed to Article II and fill in your names as Trustors along with your address. Ensure accuracy here, as this identifies you legally.
Designate a Trustee in Article III. You may choose one of you or a trusted individual. If applicable, also appoint a Successor Trustee.
In Article IV, list all assets that will be included in the trust on Exhibit A. This could include real estate, bank accounts, etc.
Review Articles V through XII carefully to understand your rights and responsibilities as Trustees and how distributions will be handled after death.

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

Couples without children may want to leave their assets to organizations that have impacted their lives, such as charities, religious groups, or their alma maters in addition to their family members and friends. Trusts can ensure these assets are distributed according to their wishes.

How much should I pay for a living trust?

Yes, you can set up a trust without an attorney. Online platforms offer templates for basic revocable living trusts. These may work for simple estates. However, high-net-worth individuals face complex risks.

Is it better to have a will or a trust in NJ?

The average fee for creating a revocable living trust ranges from $1,500 to $3,000 nationwide, although it is usually much higher in California where costs can escalate to $5,000 to $10,000 or more. These fees often reflect the lawyers experience and expertise.

How does a living trust work in NJ?

If you are married and a California resident, and you own a home, you will need a joint revocable living trust as the primary document in your California estate plan. Since you are a California resident, most, if not all of your assets will be community property.

Does a childless couple need a trust?

A living trust in New Jersey allows you to maintain use and control of your assets during your life and then passes them to beneficiaries after your death, all while providing protection from probate costs and state interference.

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