Living Trust Structures for Couples

Living Trusts for Couples usually require substantive changes in the deeper levels of the basic pattern as described above. This is caused by the special situation that couples usually share. They are emotionally tied together and they often own property collectively. Shared living also comes prevalently with shared household assets such as furnishings or electronics and many couples own real estate. That applies to both, married and unmarried partners. Therefore the following is written for every couple in a permanent relationship, in that the partners assume responsibility for each other.

Couples have several possibilities to structure their living trust(s). A couple could either have one joint trust or two separate trusts for their respective property. Another option is that both or one partner chooses to have his own trust besides a second trust held jointly by the spouses. All of these options are perfectly legal.
However most couples choose the one-trust-option. The reason is a major drawback of the individual-trusts-option. Therewith the spouses are usually forced to split up their jointly held property. Especially dividing ownership of real estate usually comes with severe administrative work as the partners would each have to transfer a half-interest in the house to two separate trusts.

But still, sometimes separate living trusts are the better choice, because the couple’s ownership-structure can be established easier upon the death of one of the partners. Whatever structure is suitable for you. The trust attorneys of Rinne Legal in San Francisco, Fairfield, Oakland, Walnut Creek and Sacramento will find the right living trust solution for you and your family.