Legal Question in Wills and Trusts in California

Again, thank you all for your time.
What are advantages or disadvantages with joint tenancies and two-settlor trusts if any?
Are joint tenancies for married couple only?
In a two-settlor trust can one settlor fund his trust with the other trust and make one trust out of the two.
If this is true would the main trust with all assets, be considered the original trustor? Sole trustee? And if someone wanted to fund the trust inside the main trust, would you have to get permission from the main trust? I know crazy questions, thanks everyone

Asked on 8/18/15, 10:26 pm

Len Tillem Tillem McNichol & Brown

0 users found helpful

0 attorneys agreed

Joint Tenancy: Cheap, but there's probate on the second death.

Community Property with Right of Survivorship: Better for married couples as property is confirmed as being community property.

Trust: More expensive than a deed, but avoids probate on the second death as well as the first.

Any couple, married or not, can make a trust together.

While a trust can have subtrusts, your question related to putting a trust into a trust doesn't quite make sense to me.

Answered on 8/19/15, 9:37 am

Keywords

Match Any Match All

Country

State

Area of Law