A marital property arrangement originating from Spanish and French civil law, this type of trust allows spouses to hold assets jointly and equally, even if acquired individually during the marriage. For example, income earned by one spouse is considered equally owned by both. This structure differs from Florida’s traditional separate property system, where individually acquired assets remain separate unless specifically commingled or titled jointly. Electing this approach offers a distinct framework for managing marital assets.
Historically less common in Florida, this specialized trust offers potential estate planning advantages, including streamlined probate processes and potential tax benefits for married couples. It can also provide enhanced creditor protection in certain situations, safeguarding family assets. By creating a clear and unified ownership structure, such trusts can simplify financial management and facilitate inheritance distribution according to the couple’s wishes.
