Harrison LLP
Louis Harrison News Post

Marriage is Joint; Why Not Your Trusts? When To Use A Joint Trust As A Passthrough Entity In Separate Property Jurisdictions .

Journal of Passthrough Entities

Joint trusts-avant garde and often confused with that horrible species of instruments known as a “joint Will”-have been shunned as an estate planning vehicle by most practitioners in common law states, such as Illinois. They are used almost exclusively for estate planning for married couples in community property states, but that is because the community property laws lend themselves (and often demand) that a jointly owned trust be used to hold community assets.

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