Trust Revocable Agreement With Two Trustees
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FAQ
Generally, the same corporate trustee can be used for multiple trusts. However, consideration should be given to whether this would achieve clients' specific objectives.
A trustee manages and distributes assets in a trust. A trustee can be is an individual or a financial institution. At times, clients may choose to name two or more individuals as co-trustees in their trust document to perform these duties together.
In some cases, upon the death of the first spouse, a Joint Trust may need to be separated into two Trusts, and assets may need to be divided. Separate Trust: With Separate Trusts, because there are two Trusts already, there often is much more flexibility and an easier process to navigate after the first spouse's death.
To be clear, yes, you may have one, two, or more living trusts. As with all estate planning questions, though, whether or not multiple trusts make sense for you depends on your circumstances.
Generally, the same corporate trustee can be used for multiple trusts. However, consideration should be given to whether this would achieve clients' specific objectives.