Legal Question in Wills and Trusts in California
Is there times where having multiple trusts is appropriate? For example having a life insurance trust and another estate trust. Also, is there times where each spouse should have their own trust?
Asked on 1/25/11, 10:40 am
2 Answers from Attorneys
John R. Browning, Esq.
[email protected] (949 234-6266)
Yes, absolutely. There are multiple types of trusts, each with a specific purpose. A more complicated situation or estate often requires multiple trusts. As an estate planning lawyer I often devise estate plans of that type.
Check out my website - www.CaliforniaLegalSolutions.com
Answered on 1/27/11, 2:00 pm
Anthony Roach
Law Office of Anthony A. Roach
Estate planners set up multiple trusts when the trustors are married, and typically set up what is called and AB trust. It is also used when the trustor has a significant amount of property that would be taxed.
Answered on 1/29/11, 3:38 pm
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