Separate Trusts are two distinct Individual Trusts, one for each spouse. Separate Trusts are typically easier to create, provide more flexibility over time, and avoid potential negative tax consequences and administrative hassles.
A Joint Trust is a single Trust document that covers both spouses and offers provisions for what happens upon the death of each. Joint Trusts can be easier to fund and have less post-death administration.
Should I Have a Joint Trust or Separate Trust with My Spouse?
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