Married Couples & Trusts

Revocable trusts are important for single persons, widows and divorced individuals; however, they are especially important for married couples.

The example below illustrates a typical “mutual trust” (also known as an “A & B Trust”).  The husband is the first spouse to die (called the “deceased spouse”) and the wife survives (called the “surviving spouse”).

During their life together, they establish a Living Trust and transfer their property to their Living Trust.

After the husband dies, his remaining separate property is transferred to the trust and the trust, in turn, becomes the property of the wife.  At the time of the wife’s death the designated successor trustee continues to manage the trust and/or distributes the assets according to the specific instructions contained within the trust.  Details may vary as each family’s trust is prepared for its own needs.