What Is a Qualified Spousal Trust?
A Qualified Spousal Trust is a trust created by a husband and wife which is revocable by either or both husband and wife acting together while either or both are alive. The qualified spousal trust can contain any other trust terms that are consistent with this new law. A spousal trust virtually can operate the same way as an existing trust. With the expertise of an estate and asset protection attorney, an existing Revocable Trust can be converted into an asset protection trust.
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The information provided on this site is provided for illustration purposes only and does not represent a proposal or specific recommendation. As a word of caution, the information presented cannot possibly substitute for competent legal advice. Our treatment of the law is general and is not intended as a comprehensive discussion of all relevant issues. The law in each state will vary to some extent, and the applicability of the law will depend upon your individual circumstances.