Survivor’s Trusts | Estate Planning Essentials | WealthCounsel

Many married couples have their assets intertwined and are reluctant to split their assets into separate individual trusts. So, a joint trust can be used to plan for these couples. A Survivor's Trust is part of a joint living trust. The Survivor’s Trust provides the surviving spouse with the same kind of flexibility that he or she would have had if the couple had used separate trusts at the outset. In a community property state, a joint trust also allows for the preservation of the valuable “double” step-up of basis at the death of the first spouse. Do separate trusts make more sense for a married couple or are joint trusts the way to go? What happens to a joint trust after a spouse dies? How do Survivor’s Trusts play into things? Learn the answers to those questions and more in this episode of Estate Planning Essentials! WealthCounsel, LLC has been helping estate and business planning attorneys practice excellence for over 20 years. Membership benefits include superior estate and business planning drafting software with Wealth Docx® and Business Docx®, a vibrant community of thousands of attorneys, and thoughtful analysis on breaking news.​ Please like, comment, and subscribe! For more information, check out https://www.wealthcounsel.com/resourc... Follow us on social media! Facebook   / wealthcounsel   LinkedIn http://linkd.in/wealthcounsel Twitter   / wealthcounsel   Subscribe to the WealthCounsel Quarterly: https://www.wealthcounsel.com/get-mag... See How WealthCounsel Can Move Your Practice Forward: https://www.wealthcounsel.com/ #estateplanning #estateplanning101 #wealthcounsel