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A married man and his spouse wish to jointly fund an

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irrevocable trust for their children...
A married man and his spouse wish to jointly fund an irrevocable trust for their children. 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)?
Submitted: 1 year ago.Category: Estate Law
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Answered in 3 minutes by:
11/17/2016
Estate Lawyer: Barrister, Attorney replied 1 year ago
Barrister
Barrister, Attorney
Category: Estate Law
Satisfied Customers: 39,042
Experience: 17 yrs estate law, real estate. Wills/Trusts/Probate
Verified

Hello and welcome! My name is ***** ***** I am a licensed attorney who will try my very best to help with your situation or get you to someone who can. There may be a slight delay in my responses as I research statutes or ordinances and type out an answer or reply, but rest assured, I am working on your question.

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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)?

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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.

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.

thanks

Barrister

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Barrister
Barrister
Barrister, Attorney
Category: Estate Law
Satisfied Customers: 39,042
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Experience: 17 yrs estate law, real estate. Wills/Trusts/Probate

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