We came across this highly informative article, written by one of the speakers of the 55th Annual Probate & Estate Planning Institute. It explains the benefits of married couples having separate, as opposed to joint, trusts. Some of the benefits discussed are creditor protection during marriage, creditor protection after a spouse’s death and remarriage protection. Typically with joint trusts, both spouses have full-unrestricted access to the trust—which means so do their creditors. Having separate trusts is a way to protect the trust from creditors and other third parties, in the event the marriage dissolves and the parties re-marry. Like we always say, it’s better to prepare on the front end to avoid as much confusion as possible on the back end.
Click here to check out the article!
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