Couples

Do couples need separate trusts or can they share one?

Couples have the option of creating a single joint revocable living trust or two individual trusts — and the right structure depends on each family's situation. A joint trust holds both partners' assets in one document, which many couples find simpler to manage during their lifetimes. Individual trusts give each partner separate control over their own assets, which can matter in blended families or situations involving assets from before the relationship. Both approaches allow assets to pass to a surviving spouse or named beneficiaries without going through probate.