Section 35 Joint Property Equally to Each Separate Share, Separate Property to Separate Share Unless Scheduled

• Library: Trust and Estate Legislation 2012

Settlors intend that all property that becomes subject to the Revocable Trust during their joint lives shall be beneficially owned by the Settlors as two separate and independent shares of the trust estate of that trust as set forth in this paragraph. It is understood that the ccomplishment of this intent is possible by the use of this joint trust and particularly the federal gift tax exemption for inter-spousal transfers. Upon the transfer of any asset to the Revocable Trust, which before that transfer was...