In a joint living trust, where should it specify what happens if one spouse dies before the other?

Estate Planning

Liz

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It sounds like you need to include specific provisions in your living trust to address what happens if one spouse passes away. A survivorship clause can specify that the surviving spouse retains control over the trust assets, or it can outline how the assets should be divided among other beneficiaries. You could put it under other terms, if there is not a space.

It would usually state that the death of one grantor doesn't terminate the trust, and the other grantor remains trustee.

Or you could include something like:
"Upon the death of the surviving Settlor, the Trustee shall distribute the Trust assets to [Name of Beneficiary]. If [Name of Beneficiary] does not survive the surviving Settlor by thirty (30) days, that share of the Trust Property shall be distributed to [Alternative Beneficiary]"

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I just created the living trust, but I don't see where it provides for what happens if one of us dies and not the other. I am speaking of my spouse.

Lexi, Chatbot

I understand how important it is to ensure your living trust addresses your concerns about what happens if one spouse passes away. Can you tell me if you have already designated beneficiaries in your trust?

Yes.

Lexi, Chatbot

Have you included any specific instructions regarding the distribution of assets in the event of one spouse's death?

No. I didn't see a place to do that.

Liz

Hi there! Welcome. My name is Liz and I’ve been an attorney for more than a decade, and I am here to assist with your legal concerns.

Just so you are aware, our service is a legal information-only site. No attorney-client relationship is formed from our conversation. So I can best help, is it a joint living trust?

I think so. It is an online form that came up for a married people.

Liz

Are you both listed as beneficiaries as well as grantors?

Grantors. So, I should go back and look for a space for other terms and type in a sentence stating that all assets will be transferred to the surviving spouse if only one of the Grantors dies?

Liz

It would usually state that the death of one grantor doesn't terminate the trust, and the other grantor remains trustee.

I need to go back to the form and see where this would go. I would have expected this to be part of the form I filled out. Should I be looking for a different form?

Liz

With the forms, they're meant to be generic, so they sometimes don't cover every clause. You could though check to see if it says anything about settlor death.

Ok, is the settlor the grantor?

Liz

They are the same thing, yes.

Ok, thank you.

Liz

You're very welcome.

Liz

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