TYPES OF TRUST SYSTEMS

The “A” trust is another way of indicating that the trust is for a single person. This will be a single party trust and it is often used not only for unmarried people but is very effective as a pre-nuptial trust where the client wishes to identify and place their personal assets into trust 

prior to being married. Assets placed into such a trust under those conditions would be considered sole and separate property and would not be subject to community property in states where

The AB Living Trust is used for couples that are legally married. This trust gives each spouse the opportunity to individually declare the heirs of the assets that they bring to the trust. It

usually uses the spouse as the default beneficiary at the first death of a spouse leaving

everything to the surviving spouse. It has another very important feature. In a day and age when people are marrying two and three times or more, it provides that each spouse can individually designate 

This trust is usually used where two single people are living together as man and wife in a common law relationship or in cases where same gender individuals are living as partners. The distinguishing factor would be that they are in some fashion co-mingling their financial interests or assets (perhaps buying a home together) but are not living under the laws governing legal marriage. This is essentially two “A” trusts but with some differences to provide for the legalities of the situation. 

We do a 5 page "Sub-Trust" as a Special Needs Provision to our regular Living Trust. This Special Needs provision must be ordered at the time the original trust is done. Asking for a Special Needs Provision to an existing trust at a later time does not qualify as a free change to

the Living Trust . Situations occur where a family may have a child with special needs. This could be permanent physical impairment or a mental or emotional impairment requiring a lifetime of care

from the parents. In thi