ABA Family Legal Guide

The Rights of Older Americans

A Right to Control Your Own Affairs

Living Trusts

My wife and I hold most of our assets in common. May I still draft a living trust to protect my share of the estate?

Yes, but take care to ensure that the trust does not violate the rights or interests of your wife in her portion of the estate. You may do this through careful drafting of the document and sound financial planning before incapacity. You and your wife may need separate counseling and planning advice, as your interests may conflict with each other. Remember that you must transfer money or property into the trust to make it effective.