What is the name of your state? California
I am married with no children. We want to avoid probate. We own our house in joint tenancy. I also have a rental house which is my separate property. I currently want my wife to receive the separate property if I die, but I also want to reserve the right to change my mind on who gets the separate property. Is the correct approach to have a shared revocable living trust for our house and a separate revocable living trust in my name for the separate property, with my wife as beneficiary?
I am married with no children. We want to avoid probate. We own our house in joint tenancy. I also have a rental house which is my separate property. I currently want my wife to receive the separate property if I die, but I also want to reserve the right to change my mind on who gets the separate property. Is the correct approach to have a shared revocable living trust for our house and a separate revocable living trust in my name for the separate property, with my wife as beneficiary?