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What Is a Joint Living Trust for Married Couples in New York? - Davies Law Firm
From Davies Law Firm - What Is a Joint Living Trust for Married Couples in New York? looks at how married couples in New York can use a single trust to hold property together and plan for what happens to it over time. A joint living trust is created when both spouses act as trustors, and when it is properly funded, assets can pass to the surviving spouse or named beneficiaries without going through Surrogate's Court. The trust does not, however, offer creditor protection or Medicaid planning while both spouses are alive and the trust remains revocable.
Frederick P. Davies of Davies Law Firm…
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