Separate Property relates to how spouses own property together. In Separate Property states, both spouses each have an interest that is legally distinct. It may help to think of it as one spouse owns half and the other spouse owns half.

Because each spouse has a distinct interest, it's most typical to have distinct Trusts for each. We've designed our Trusts to be separate Trusts in Separate Property states. We feel this is the best option as it makes it easier to create, provides more flexibility over time, and avoids potential negative tax consequences and administrative hassles.

You can each create Trusts that are mirror images and can name each other as Successor Trustees. This makes it similar in the long run, but with the benefits mentioned above. We also support the option for a married couple to create a joint Trust in Separate Property states!

Was this article helpful?
0 out of 0 found this helpful