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Posted by / 26-Sep-2019 12:12

I’m writing this because confusion seems to reign in the mind of clients about the temporary nature of the Schedule, which is the case for most trusts.To get it out of the way, let’s first talk about when the Schedule A is a permanent fixture of the trust that needs to be updated and maintained.You may choose to have personal property pass to to heirs upon your death, or you may designate the personal property to pass upon the death of the surviving spouse.It is also possible for each party to create his or her own living trust.This report is being offered free of charge, and you can download it through this website.

This schedule of assets (which, for convenience I’ll call Schedule A since that’s what it usually gets called) can be either temporary or permanent.

This may be a good idea if there is very little shared property.

Free Report on Living Trusts We have prepared an in-depth report that will answer most questions that you may have about revocable living trusts.

Your spouse would control the shared property if you do in fact predecease your spouse.

Revocable living trusts can also be set up for divorce protection, so that upon the death of the first spouse, the surviving spouse acts with a co-trustee that oversees the deceased spouse’s part of the community property and the deceased spouse’s separate property.

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Before we explain the intricacies of living trusts as they apply to married couples, we should examine the value of these trusts in general.