What is a Testamentary Spousal Trust?

A testamentary spousal trust is a legal arrangement established through a will to benefit the settlor’s surviving spouse. It provides an alternative to the outright distribution of estate assets, offering certain tax benefits and flexibility for managing complex family dynamics.

Several times a year, I receive questions from clients about adding an adult child as a joint owner of their assets.  This could be bank accounts, investment accounts, or even as a joint owner of their home.