Many married couples choose a joint revocable living trust because it sounds simpler.

But in practice, joint trusts can create significant complications involving asset ownership, administration, bookkeeping, and taxes — especially after the first spouse passes away.

In this video, estate planning attorney Richard Morgan explains why joint revocable living trusts can become difficult to manage and why many experienced estate planning attorneys recommend separate revocable living trusts instead.

In this video, you’ll learn:

• • Why ownership matters inside a joint trust
  • The bookkeeping and asset tracking challenges many families overlook
  • What often happens after the first spouse dies
  • Why improperly managed joint trusts can create legal and tax issues later

Learn more about revocable living trusts.