Revocable living trusts are an increasingly popular estate planning tool for married couples. They can be extremely useful for incapacity planning, probate avoidance (including the ability to avoid probate in other states so long as real estate in another state has been properly transferred to the revocable living trust), asset protection, and privacy. Depending on the married couple’s goals and circumstances, an estate plan can include either a joint revocable trust or separate trusts for each spouse. Both options offer advantages and disadvantages. Listed below are several client scenarios that explore whether a joint trust or individual trusts are better. 

Many of our clients live in an increasingly mobile world, owning property or assets in multiple countries, or maintaining dual citizenship. They may also be United States (US) expatriates or a US person married to a non-citizen spouse. The estate planning process for these clients is likely to be more complex because each country has different laws or statutes regarding wills, trusts, and taxes. As a result, it is imperative that estate planning practitioners have a basic knowledge of the applicable US and foreign laws and rules, as well as commonly used estate planning strategies.  It is not enough to assume that a will or trust created in the US will be honored in another country. 

Symposium is a one-of-a-kind gathering of the finest minds in estate planning and business law. Featuring top-notch and practical education from leading experts in trusts and estates, unparalleled (and unforgettable) networking opportunities, and modern techniques for growing your practice, Symposium has one goal in mind: helping you achieve the practice you want.