If you're married and living in North Carolina, managing married estate planning in NC as a couple can feel overwhelming. Should you create a joint trust? Draft separate wills? What’s the difference, and how do you know what’s best for your situation?
At Eldreth Law Firm, we regularly work with couples across the state who want to protect their assets, make things easier for their spouse, and ensure their wishes are followed. Whether you’re newlyweds or celebrating your 30th anniversary, understanding your estate planning options as a married couple is essential.
This guide will walk you through the key differences between joint trusts and separate wills for married estate planning in NC, and help you make an informed decision based on your family’s unique needs.
Why Married Estate Planning in NC Matters for Couples
Many people assume that marriage automatically grants their spouse legal authority over all their assets and decisions. But without proper planning, things aren’t always so simple.
Here’s why married estate planning in NC is important:
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Probate can still apply, even if you’re married
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Your spouse may not inherit everything automatically, depending on how property is titled
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Children from previous relationships need to be accounted for
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Without a will or trust, North Carolina intestacy laws decide who gets what
Estate planning isn’t just about deciding where your assets go; it’s about protecting your partner, your family, and yourself from legal and financial complications down the road.
What Is a Joint Trust?
A joint revocable living trust is a single trust document created by both spouses. It holds jointly owned property and can also hold individual assets that either spouse contributes. As long as both spouses are alive, they typically act as co-trustees and have control over the trust property.
When one spouse passes away, the surviving spouse usually becomes the sole trustee and maintains control, with provisions in place for how the trust assets are distributed after the second spouse’s death.
Benefits of a Joint Trust:
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Simplifies asset management for couples with mostly joint property
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Avoids probate for assets held in the trust
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Streamlines the process for the surviving spouse to manage or access assets
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It can be easier to update and manage than separate trusts
Considerations:
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May not be ideal for couples with separate financial lives or blended families
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Privacy can be limited if one spouse wants to make changes independently
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Requires coordinated management of shared and individual assets
What Are Separate Wills?
Each spouse can also create their own individual will, which outlines how they want their separately owned assets distributed and who they name as executor. Wills can be tailored to each spouse’s specific wishes, even if they largely mirror one another.
Benefits of Separate Wills:
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Flexibility because each spouse can name different beneficiaries, executors, or guardians
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Ideal for blended families or second marriages
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Easier to keep individual gifts or inheritances separate
Considerations:
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Wills typically go through probate, which can be time-consuming and public
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Assets not titled properly may not follow the will’s instructions
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Couples must take extra care to coordinate their plans and avoid conflicting provisions
Which Option Is Right for You?
The best approach to married estate planning in NC depends on your situation, goals, and assets. Here are a few questions to consider:
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Do you and your spouse own most things jointly or separately?
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Are there children from a previous marriage or relationship?
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Do you want to ensure privacy and avoid probate?
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Would one spouse need help managing finances if the other passed away first?
In many cases, a combined approach, such as separate wills with a shared trust, or individual trusts tailored to each spouse’s needs, offers the best of both worlds.
The key is to make sure all parts of your estate plan work together, from property titles and beneficiary designations to powers of attorney and advance directives.
Don’t Forget These Other Essentials
Regardless of whether you choose a joint trust or separate wills, your married estate plan should also include:
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Durable power of attorney (for financial matters)
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Health care power of attorney (to make medical decisions)
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Living will (advance directive for end-of-life care)
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Updated beneficiary designations on retirement accounts, life insurance, and payable-on-death accounts
These documents are just as important as your will or trust—and they ensure that your spouse (or someone you trust) has the authority to act if you’re ever unable to do so yourself.
Get Help with Married Estate Planning in NC
No two marriages are alike, and your estate plan shouldn’t be either. At Eldreth Law Firm, we work with couples in Raleigh, Cary, and across North Carolina to create personalized, legally sound estate plans that reflect your life, your goals, and your values.
Whether you’re starting from scratch or updating old documents, we’ll walk you through the process step-by-step.
Have questions about joint trusts or separate wills?
Contact Eldreth Law today to schedule a consultation for married estate planning in NC.