Protecting Your Assets and Your Loved Ones: What is a Joint Living Trust?
What is a Joint Living Trust? A joint living trust is a legal document that allows a married couple or domestic partners to hold their assets together in a single trust, and can be effective during their lifetime as well as after death. By creating a joint living trust, the couple can avoid the probate process, which can be a lengthy and expensive court-supervised process of distributing assets after death. The trust allows the couple to retain control over their assets during their lifetime, and designate how their assets will be managed and distributed after their death. During the couple’s