A Few Things Married Couples Should Know About Estate Planning

A Few Things Married Couples Should Know About Estate Planning

Married couples can enjoy unique estate planning privileges that make it easier to prepare for the future. Here are some types of trusts that can help you protect one another financially.

• Survivor’s Trust – This is a trust that provides a clean transition if you want to leave everything to your mate. It’s very cut and dry but may not be the right option for individuals who get remarried to someone who is not a parent of their children.
• Survivor’s Trust with Qualified Terminable Interest Property – This is the right type of survivor’s trust for blended families (as well as for those with a smaller estate). It does offer nice deductions while you are both living.
• Marital Disclaimer Trust – Be sure to consult an estate planning attorney to see if this is right for you. In this case, the surviving mate has an option for a Bypass Trust. It’s a very specific type of trust for special circumstances.
• A/B Trust – This is a rare trust to provide shelter in the case of an enormous estate that would be subject to an estate tax. If you have such a large estate, be sure to ask your attorney about this type of trust.

California Estate Planning for Married Couples

Petrov Law Firm in San Diego can provide you with the estate planning advice you need. Get in touch with us today by calling 619.344.0360, and let us help you to ensure that your estate is in good order