Sample Living Trust For Married Couple
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FAQ
Each spouse is required to manage their own trust, but they can name the other spouse as co-trustee so they both can control all assets.
The bene?ciaries are the persons for whose bene?t the trustee holds the trust property. In most trust deeds the ?primary bene?ciaries? will be speci?ed, and will usually be the people setting up the trust, and perhaps their children or other close relatives.
Simple Living Trusts for Married Couples Simple living trusts are often considered the easiest kinds of trusts to set up and keep. In a simple living trust, a couple can share the control and benefits of the trust while they are living.
A married couple can typically create a joint trust agreement, naming themselves as co-trustees. Under this arrangement, the married couple will own the trust assets during their lifetimes.
A simple example would be the situation in which one member of a family advances money to another and asks the second member to hold the money or to invest it for him. A more complicated example of an implied trust would be the situation in which one party provides money to another for the purchase of property.