Revocable Joint Trust for Married Couple: Marital Trust and Clayton Provision (California)

This legal template is designed to establish a Revocable Joint Trust specifically for married couples in the state of California. The trust includes both a Marital Trust and a Clayton Provision, which is a provision typically found in trusts to ensure tax savings and flexibility in estate planning.

The Marital Trust allows spouses to transfer their assets and property into a shared trust, which provides them with joint control and management over these assets. By placing their assets within the trust, couples can eliminate the need for probate upon the death of one spouse, providing a seamless transfer of assets to the surviving spouse.

Additionally, the Clayton Provision is included in the trust to take advantage of tax-saving strategies and provide flexibility in the distribution of assets to beneficiaries. This provision allows for the creation of a separate trust that is funded with assets up to the maximum exemption amount allowed under state and federal tax laws. This can help minimize or even eliminate estate taxes upon the death of the surviving spouse, ultimately preserving more wealth for future generations.

Overall, this legal template provides a comprehensive framework for married couples in California to establish a Revocable Joint Trust, ensuring the seamless transfer of assets, effective estate planning, and potential tax savings for their estate.