Establishing a trust is often a smart way to ensure certain assets or accounts will be passed along to the right people or beneficiaries. For some individuals, the beneficiary of a trust is a friend or charity, but others want to name family members as the beneficiaries of various types of trusts.

Although children are typically the commonly named beneficiaries of trusts, you may be wondering whether or not your spouse can be the person who receives assets or accounts. Before investigating this issue further, it should be noted that the following is not legal advice and is provided for informational purposes only. You’re encouraged to work with an estate planning professional for advice on how to set up a trust.

Your Spouse Can Be Your Trust’s Beneficiary

For most people, a spouse can be named as the beneficiary of a trust. A trust isn’t always necessary, however, since most assets automatically get passed on to a spouse in the event of the other spouse’s passing. This will depend on the asset and the state, but it is a general rule.

Something else to consider when naming a spouse as a beneficiary is that even irrevocable trusts may be able to be modified in the future. You will want to work with your spouse and your estate planner to ensure that all parties to the trust agreement understand their obligations, benefits, and options.

Work With an Attorney

No matter how you plan to establish your trust or who you plan to name as a beneficiary, it’s important to work with a trusts attorney to ensure your plan is legally sound. When seeking an attorney, you’ll want to find one in your state as different states have different laws regarding trusts, wills, and other estate planning matters. If you are looking for an NYC trusts attorney, visit this website.

For example, if you’re in the Brooklyn area, you can try searching for NYC trusts attorney services online. An NYC trusts attorney will be able to provide you with guidance that is following New York state law and that pertains to the unique variables of your specific situation.

Read a similar article about elder estate planning attorney in Long Island here at this page.