What is a joint trust?

A joint trust is a type of trust in California that helps a person avoid probate when they pass away. Probate is the process of settling a person’s estate after their death and can be incredibly costly and time-consuming. A joint trust allows two or more parties, usually spouses or family members, to create a trust that includes all their assets. When one of them passes away, the surviving party will have immediate access to the trust’s assets without having to go through the probate process. A joint trust can also be helpful in other ways. It can provide protection from creditors, allow assets to be passed down without going through probate, and give an individual the ability to provide for their loved ones after they have passed away. It’s important to know however, that a joint trust must be carefully-crafted by an elder law attorney in order to ensure that it meets the legal requirements in California. It’s also important for those creating a joint trust to clearly state how they would like assets to be distributed upon their death. Without proper planning, a joint trust can quickly become invalid.

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