Living trust - Estate Planning - Revocable living trust - Void Probate - living trust documents - Legal forms
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To better understand the issues relating to your legal situation or problem, our legal information and other law related facts may be of interest to you
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Bypass Trust
While both spouses are alive, there can be a single Initial Bypass Trust, that is revocable and completely in their control. It is similar to, and serves all the purposes of the "simple" living Trust.
The Initial Bypass Trust ends at the first death, by splitting into two new Trusts ("A" and "B"). (This happens simply because there is a paragraph in the Initial Bypass Trust stating that, upon the first death, the "A" and "B" Trusts are to be created.
If separate husband and wife Trusts have been set up, it is only the original Trust of the deceased spouse that ends at this point, and the "A" and "B" Trusts are still created.)
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Return to all Living Trust legal information
Legal Articles about Living Trust
Living Trust Frequently Asked Questions
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