Joint vs Individual Trusts for a Couple Explained: The Pro-Con Checklist for What’s Right for YOUR Situation
Jun 23, 2022This happens quite frequently when couple clients move to the area, ask to meet with me about updating their current estate plan… and they have two trusts. Or when meeting with clients who want to avoid probate for their estate, but they are just starting to learn about revocable living trusts. One of the first things they ask is whether they should have individual trusts or joint trust. But what is on the pros and cons checklist of what would be best for their particular situation?
In this video, I go through a quick modern history of why even attorneys from different parts of the country have different viewpoints, why there is no one 100% correct answer, and why the answer to the question is way more about your particular situation and goals rather than a “one-size-fits-all” philosophy.
SUBSCRIBE TO YOUTUBE TO HELP GET GOOD INFORMATION OUT
https://youtube.com/nclawyer?sub_confirmation=1
RELATED VIDEOS
Do I Need a Tax ID for My Living Trust?: https://youtu.be/_D7b3hmOi6M
Basics of a Living Trust: https://youtu.be/VxiNjNngfsA
Estate Planning Playlist: https://youtube.com/playlist?list=PLrrVKQBBVofrcWCdiJhvVyT-3FP9g4oc6
Medicaid Planning Playlist: https://youtube.com/playlist?list=PLrrVKQBBVofo-p9kCyJoGnW8DNQ8Vd58K
Special Needs Estate Planning Playlist: https://youtube.com/playlist?list=PLrrVKQBBVofpebbVuL0dFey2ehaGy40Et
Professional Series Playlist: https://youtube.com/playlist?list=PLrrVKQBBVofoXPNgR_-6Nxdw08hdX0qih
Financial and Insurance Planning Playlist: https://youtube.com/playlist?list=PLrrVKQBBVofqPOeJ6HYqSmjoc6DXltsWl
COURSES, PROGRAMS, AND WEBINARS
Special Needs Planning Webinar. FREE WEBINAR. There are very few areas of estate planning more fraught with risk than trying to plan an inheritance for a special needs beneficiary… if you don’t know the basics. In this free webinar, I go through the myths, goals, and proper techniques in estate planning for a beneficiary with special needs. http://www.specialneedsplanningwebinar.com.
Trust Funding Webinar. FREE WEBINAR. It’s not enough to just have a revocable living trust and not ensure that your assets are coordinated with it to avoid probate. It’s like having the world’s best suitcase for your dream vacation, but failing to pack everything you need. In this webinar, I break down the biggest “trust funding fails” I have seen in my legal career. Trust funding doesn’t have to be a complicated mess when you know the basics and reasoning behind the different techniques. http://www.trustfundingwebinar.com.
Medicaid Planning Webinar. FREE WEBINAR. When it comes to Medicaid Planning, there is little room for mistakes and hardly no forgiveness for incorrect moves (at least without expensive court intervention). In this free webinar, I review the ten biggest Medicaid Planning mistakes people make. http://www.medicaidplanningwebinar.com.
Estate Crash Course. What is probate? What’s the difference between a Will and a Revocable Living Trust? What are the big decisions I need to make? There’s a lot of information, misinformation, and folk remedies out there, but I cut through all of that to explain the basics of estate planning in plain English, long before you step foot into the attorney’s office to work on your specific goals and objectives. http://www.estatecrashcourse.com.
VA Pension Crash Course. One of the least known, least utilized benefits available to senior veterans is the Veterans Pension Benefit. This course reviews the ins and outs of the benefit, who it is meant to help, and the all-important four big tests to qualify. http://www.vapensioncrashcourse.com.
The Six Keys to Successfully Planning Your Estate. Get organized in planning your estate through this FREE REPORT before you start spending hundreds of dollars an hour with an attorney. http://www.sixkeysreport.com
SAY HELLO ON SOCIAL MEDIA!
LinkedIn: https://www.linkedin.com/in/marsocci
Instagram: https://instagram.com/the_plain_english_attorney
Facebook: https://www.facebook.com/TheLawOfficesofJeffreyGMarsocci
YouTube: https://www.youtube.com/user/nclawyer
Blog: https://plainenglishattorney.com/blog
Podcast RSS Feed: https://app.kajabi.com/podcasts/2147498518/feed
#estateplanning #livingtrusts
Stay connected with news and updates!
Join our mailing list to receive the latest news and updates from our team.
Don't worry, your information will not be shared.
We hate SPAM. We will never sell your information, for any reason.
