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Joint Trusts or Separate Trusts: Advice for Married Couples

November 29, 2020

Trust: Law – an arrangement whereby a person (a trustee) holds property as its nominal owner for the good of one or more beneficiaries. 

From the Kiplinger website

A revocable living trust is usually the best way to pass your assets to your heirs after you are gone.

Unlike a will, assets titled in a revocable living trust avoid both the time and expense of going through the probate courts and keep your financial affairs from becoming a matter of public record.

And like any good estate plan it can be used to plan for the possibility of your being incapacitated, reduce or avoid any death tax, make sure the right heirs get your assets after you‘re gone, and it does not change the tax treatment of your assets while you’re alive.

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From → Finance

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