The consideration required in this question simply has too many variables to provide a “stock” answer.
A number of issues specific to a person’s situation must be evaluated to answer correctly. If the person creating the trust cannot assess their situation accurately and in turn apply the concepts of creating a Trust correctly, that person requires legal advice — something we cannot do in this forum.
Standard Legal’s Living Trust legal forms software discusses each of these Living Trust topics in detail and presents options for consideration. But in the end, the person creating the Trust must make the decision as to what type of structure will work best — that’s how pro se (“do it yourself”) law works.
If you decide you need legal advice to help you determine the optimum structure to create your Living Trust, visit our Attorney Find page and select the “Estate Planning” link.