Joint Trusts: A Smarter Way to Plan Together

When couples start thinking about estate planning, one of the first questions they often ask is: “Can we just create one document that covers us both?”

It’s a great question — and one that deserves a clear answer.

While joint wills might seem like the simplest route, they often create more challenges than solutions. In fact, GoodTrust does not offer joint wills because they can fall short in flexibility and long-term effectiveness. To understand why, read our article Individualized Estate Planning: Why Joint Wills Fall Short.

A joint trust, on the other hand, allows couples to plan together without sacrificing control, adaptability, or peace of mind. It’s one of the most effective ways for partners to manage their shared legacy — together.

A joint trust is a single trust created by two people — usually spouses or partners — that holds shared assets and defines how those assets should be managed during life and distributed after death. In a joint trust, both partners serve as co-trustees, managing and updating the trust together. When one partner passes away, the surviving co-trustee becomes the sole trustee, continuing to manage the trust.

This shared approach keeps things organized and ensures continuity, especially during emotional times when decisions matter most.

Creating a joint trust is straightforward. You and your spouse or partner create one trust together, transfer (or “fund”) shared assets — such as your home, joint bank accounts, and investments — into the trust (You Created Your Trust, Now What?), and decide how those assets will be distributed after one or both of you pass away. Both of you maintain equal control while you’re living.

At GoodTrust, you can create a joint trust by simply adding a co-trustee during the setup process. You can also include individual property and customize how each asset is handled, giving you full flexibility.

A joint trust combines both partners’ assets into one plan, simplifying management. You don’t need duplicate documents or separate trusts to maintain. Everything is stored, organized, and updated in one place — making administration easier while you’re both alive and after one of you passes.

When one partner passes away, the surviving co-trustee automatically assumes full control of the trust. There’s no waiting period or legal hurdles — everything continues smoothly, ensuring the surviving spouse can focus on healing, not paperwork.

Like any revocable living trust, a joint trust helps your loved ones avoid probate — the lengthy, often costly legal process of distributing assets through the court system. Learn more about probate and the benefits of trusts in Trust Me, It’s Worth It: Benefits to Setting Up a Trust.

A trust gives you the benefit of flexibility — you can add or remove assets, modify beneficiaries, and adjust terms as your family or financial situation evolves.

By consolidating everything into one trust, you minimize confusion for future trustees or beneficiaries. It’s a single, clear plan that outlines exactly what should happen — no second-guessing, no missing details. See more on organization in Unlocking the Potential of Your Trust: What You Can Include.

Common Questions About Joint Trusts

Do I need to list my spouse as a beneficiary if they’re already a co-trustee?

Typically, if your spouse is listed as a co-trustee, they automatically become the sole trustee if you pass away first. Still, you may choose to name them as a beneficiary to ensure they receive specific assets. Because laws vary by state, it’s always best to confirm with an estate attorney.

Can we include individual assets in a joint trust?

Yes. You can include both joint and individual assets in the same trust. Each asset can have its own distribution instructions.

What happens when one spouse passes away?

The surviving co-trustee continues to manage the trust without interruption. Later, when the second partner passes, the successor trustee (often a family member or trusted friend) takes over to distribute assets according to the instructions you set together.

How to Create a Joint Trust with GoodTrust

Creating a joint trust with GoodTrust is easy — and you can do it from any device. Start by creating a new Trust. When prompted, select “Add Co-Trustee.” Include both partners’ details, assets, and distribution preferences. Review, finalize, and store your documents securely in your GoodTrust Digital Vault.

You can make unlimited updates anytime your circumstances change — whether that’s buying a home, welcoming a child, or revising your long-term plans.

A joint trust is more than just a shared legal document — it’s a reflection of your partnership, your goals, and the legacy you want to protect together. By creating one plan that evolves with you both, you simplify the process for yourselves now and for your loved ones later.

👉 Start your Joint Trust today with GoodTrust — because planning together is one of the most meaningful acts of care you can take.