Trusts & Estates
Joint Trusts in a Separate Property State: Time For A Second Look?
By: Teresa Nuccio, Esq. and Robert P. Wolfson, Esq., CPA
The use of joint revocable trusts in a separate property state has been a controversial subject for over two decades. What most commentators agree upon, even those critical of their use, is that the joint trust can be an effective planning tool if used under appropriate circumstances and drafted properly. With the federal estate tax exemption amount at an all-time high, such planning will likely become more popular, even though it can be appropriate in a taxable estate as well. The savvy planner will recognize when they are a good fit, when they are not advisable, and how to draft and fund them properly.
To read more about joint and separate trusts, please complete the form below.
Complete the form to get your free guide
2021 Tax Cheat Sheets for Clients and Prospects
Download our free tax filing cheat sheets to give to your clients and prospects.Learn More
gifIrrevocable Trust Gifting Trust Sample
Download our Irrevocable Trust Gifting Trust Sample and see how Wealth Docx(R) makes drafting gift trusts simple.Learn More
Tax Reform is Here: What You Need to Know to Advise Your Clients
The 2017 tax reform package is the most significant change to tax law in a generation. Find out what it means for estate planning and business clients in this in-depth thought paper.Learn More