A "Better" Guide to Estate Plan Funding, Part 6: Joint Versus Individual Revocable Trusts

Exploring pros and cons of these two common approaches

Table of Contents

1. Intro

2. Video

3. Slides

4. Key Takeaways

Intro

On occasion, I encounter attorneys who have strong preferences towards joint revocable trusts for a couple, versus individual revocable trusts - and vice versa. Likewise, I have run into advisors with strong opinions - more often towards joint revocable trusts, primarily for ease of funding with joint accounts.

This is a debate that cannot be settled, because it is largely specific to the state in which a couple is domiciled along with their specific assets and estate planning goals for each asset. In this video and slides, we discuss some of the benefits and trade-offs of the joint revocable trust.