Estate Planning for Couples

Joint Living Trust for Married Couples

Most married couples share everything — including their estate plan. A joint trust lets you manage assets together, protect each other, and keep everything out of probate.

The short answer

A joint revocable living trust is one trust created by both spouses. You both act as trustees, maintain full control, and can make changes anytime. When one spouse dies, the survivor continues managing everything — no probate, no court. When both are gone, assets go to your beneficiaries directly.

What is a joint living trust?

A joint trust is a single trust document that both spouses create and fund together. Your home, bank accounts, and investments all go into one trust.

Both of you are:

  • •Grantors — You created the trust and put assets in
  • •Trustees — You manage the trust and make decisions
  • •Beneficiaries — You benefit from the assets while alive

Nothing changes day-to-day. You use your accounts normally, live in your house, buy and sell property. The trust is just the legal container that holds it all.

How a joint trust works

While you're both alive

Both spouses act as co-trustees. Either can manage the trust — pay bills, sell property, make investments. You can also change or revoke the trust anytime, as long as you both agree.

When one spouse dies

The surviving spouse becomes sole trustee. No probate, no waiting, no court involvement. The survivor keeps full control of all trust assets and can continue using them as needed.

When both spouses are gone

Your successor trustee (usually an adult child) distributes assets to your beneficiaries according to your instructions. Again, no probate — everything transfers directly.

Joint trust vs. separate trusts

Some couples create separate individual trusts instead of one joint trust. When does that make sense?

Joint trust is better when:

  • • You share most assets
  • • You agree on who gets what
  • • First marriage for both
  • • Children are shared
  • • Simpler to manage

Separate trusts may be better when:

  • • Blended family with kids from prior marriages
  • • You want different beneficiaries
  • • Large estate with tax planning needs
  • • Significant separate property
  • • Creditor protection concerns

For most married couples, a joint trust is simpler and works perfectly. If you have a complex situation (especially blended families or estates over $13 million), talk to an estate planning attorney.

Community property states

If you live in a community property state (California, Texas, Arizona, Nevada, Washington, and a few others), most assets acquired during marriage are automatically owned 50/50 by both spouses.

A joint trust is especially useful here because it keeps community property together and maintains its special tax treatment. When one spouse dies, community property in a trust gets a full step-up in tax basis — potentially saving significant capital gains taxes.

If you're in a community property state and own appreciated assets (like a home that's worth more than you paid), this tax benefit alone can save your family thousands.

What happens when the first spouse dies?

This is where joint trusts really shine. With no trust, the surviving spouse might have to:

  • •Go to probate court to transfer jointly-owned property
  • •Retitle accounts and deeds
  • •Wait months for court approval to access funds

With a joint trust, none of that happens. The surviving spouse is already a trustee with full authority. Life continues without legal interruption — exactly when you need stability most.

How to set up a joint trust

1.

Both spouses answer questions together

Online services walk you through decisions about beneficiaries, successor trustees, and how assets should be distributed.

2.

Review and sign together

Both spouses sign the trust document, typically in front of a notary. Some services offer signing together or separately.

3.

Fund the trust together

Transfer your home, accounts, and other assets into the trust. This is the critical step most people skip.

What a complete joint trust package includes

  • ✓Joint Revocable Living Trust — The main document
  • ✓Pour-Over Wills — One for each spouse, catches assets outside the trust
  • ✓Healthcare Directives — One for each spouse
  • ✓Financial Powers of Attorney — One for each spouse
  • ✓Certificate of Trust — Summary for banks and title companies
  • ✓Property Deed — To transfer your home into the trust

Create your joint trust together

Mantle walks both spouses through the process. Answer questions together, sign online with a notary, and get everything you need to protect each other — in about 30 minutes.

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$995 for couples. Includes everything for both spouses.