The Good, the Bad, and the Innovative: The Evolution of Joint Spousal Trusts in Today’s Estate Planning
We tend to think of joint trusts as typical planning structures (for community property jurisdictions, and therefore, “Good”), or strange (for common law jurisdictions, and therefore, “Bad”.) But 2013 is witnessing a rapid evolution in the importance and use of joint trusts, requiring their reconsideration in common law jurisdictions and their evolution in community property jurisdictions. This development has been caused by changes in the tax law and the expanding number of non-taxable estates, changes in the estate planning practice, and how we, as practitioners, are focused on more value-added steps in traditional estate planning, changes in our understanding of joint trusts, and updates and new legislation on qualified spousal joint tenancy trusts with continued tenancy by the entirety protection (hence, the “Innovative”).
ACTEC 2013 Fall Meeting
October 24 – 27, 2013
Fort Worth, TX