Joint Spousal Trusts
A Joint Spousal Trust is very similar to an Alter Ego Trust except that a Joint Spousal Trust is used for a married couple whereas an Alter Ego Trust is used by an individual. The benefits of Alter Ego Trust also apply to Joint Spousal Trusts. As with an Alter Ego Trust, the Joint Spousal Trust enables a couple to avoid probate and expensive probate fees. in addition, a Joint Spousal Trust lets your beneficiaries avoid the delays of probate court. Further, distributions made in a Joint Spousal Trust are generally not subject to challenge under the Wills, Estates and Succession Act unless the initial distribution into the trust is invalid.
If you have questions about Joint Spousal Trusts, please do not hesitate to contact us.