For a married couple, do you draft a joint trust or separate trusts for each spouse?

joint-or-separate-ira-trust-for-married-couplesQ: For a married couple, do you draft a joint trust or separate trusts for each spouse?

A: With a married couple, each spouse would get his or her own individual IRA Inheritance Trust®.  The trusts would be mirror images of one another and each spouse would typically name the other as the primary beneficiary.  There are a number of reasons for doing it this way.  One primary (and practical) reason is that IRA accounts are typically to an individual IRA owner, so you would want all of a spouse’s IRAs to be accounted for in his or her own IRA Inheritance Trust® and the same for the other spouse.

<<BACK TO Q&A


The IRA Inheritance Trust® is a registered trademark or trademark of Kavesh, Minor & Otis, Inc. in the United States and/or other countries. All rights reserved. Image courtesy of Ambro of freedigitalphotos.net.

DISCLAIMER: This website is intended to provide legal information only; legal information is not legal advice and you should consult with qualified legal counsel prior to implementing any estate planning. The transmission or receipt of information to or from this Website is not intended to create, and does not create or constitute, an attorney-client relationship. No portion of this site may be reproduced or used in any manner other than for the private information of the site reader without the express written consent of The Ultimate Estate Planner, Inc.

Leave a Reply

Your email address will not be published. Required fields are marked *