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Can they both contribute funds to that trust, to avoid the bother of having to create two trusts (one funded by the husband and the other by the wife)?
Sure. Once the trust is created, anyone can contribute corpus (i.e. assets) into it... The husband, wife, family members, friends, etc.. There is no restriction on putting assets into a trust as they are simply transferred over or delivered to the trustee of the trust for inclusion into it.