Determining whether a married couple is best suited for individual Anaheim living trusts rather than one joint family trust depends upon the unique facts and circumstances for each family. There are generally various pros and cons with regard to individual trusts versus joint trusts. Fortunately, an experienced attorney can help guide you through the process of structuring your estate plan so that it accomplishes your goals in the most efficient manner possible.
When assessing what type of Anaheim living trust or trusts will best suit your family, your attorney will help you to consider the following questions:
- Will your estate benefit from estate tax savings planning?
- Do you and your spouse have separate goals and wishes for your estates?
- Do you and your spouse own most of your assets individually or jointly?
- Does either spouse have a child from a previous relationship?
- Does either spouse own a small business?
- What types of assets does each spouse own?
Regardless of whether you opt for an individual trust or a joint family trust, creating an estate plan using a trust has many benefits for you and your loved ones. Your attorney can help design the plan that is best for accomplishing your goals. View our free guide, Understanding the Revocable Living Trust - In Language that Anyone Can Understand in 8 Minutes, for more information about using trusts in an estate plan. To learn more, contact an experienced estate planning attorney in Anaheim today at (714) 459-5481.