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    Oneill474's Avatar
    Oneill474 Posts: 427, Reputation: 2
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    #1

    Jul 3, 2010, 09:04 AM
    Revocable trust
    Why would you need it, if husband and wife own everything
    Jointly. Like joint tenants with property. If the husband dies it
    Would go automatically go to the wife. No probate needed

    Is this correct?
    JudyKayTee's Avatar
    JudyKayTee Posts: 46,503, Reputation: 4600
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    #2

    Jul 3, 2010, 09:09 AM

    If EVERYTHING is jointly owned, you are correct.

    Trusts often protect assets in the event one party (or the other) has to enter a nursing home or other long-term facility.
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