When writing up a RLT for a married couple, how do I word it so that both are grantors and trustees? For example, do I put: John Smith and Mary Smith, or John and Mary Smith, grantors under the John Smith and Mary Smith Trust Agreement?
Are you writing your own trust? I strongly advise you not to do so, if that's what you're doing. Drafting a trust can be complex and full of traps for the unwary. You will save yourself and your beneficiaries time, money and headache by talking with an estate plannin attorney (and not one of those companies that sell cookie-cutter trusts) about your assets and your wishes so that he or she can draft the trust for you.
To answer your question, it doesn't make a difference whether it says "John Smith and Mary Smith" or "John and Mary Smith", but they are not grantors "under" the trust and your language does not make them trustees. Again, please talk to an attorney.
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Agree with the previous 2 responses. Drafting a trust is a job for legal professionals only. Unless you want to leave your loved ones with a real mess, you should have your trust professionally prepared by an expert probate/trust attorney. Your loved ones will thank you for it.
Ms. Willi is a tax attorney, CPA, and Ohio-Certified Specialist in Estate Planning, Trust & Probate Law, with offices in Westerville, Ohio. She serves client families and private business owners throughout Ohio. Ms. Willi responds to Avvo questions as a public service to help educate and provide general guidance to questioners, but her responses are not legal advice and do not create an attorney-client relationship. Her posts are provided for informational purposes only and are not a substitute for advice provided by an attorney or licensed tax professional. Her phone number is 614-890-0500 and her website is www.willilaw.com.
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