A Wisconsin Revocable Trust Agreement when Settlers Are Husband and Wife is a legal document that allows a married couple to create a trust together for the management and distribution of their assets. This type of trust agreement provides flexibility and control to the couple, as they can change or revoke the terms of the trust during their lifetime. It is commonly used as an estate planning tool to avoid probate, minimize estate taxes, and ensure the seamless transfer of assets to beneficiaries. There are different types of Wisconsin Revocable Trust Agreements available to married couples, depending on their specific needs and goals. Some common types include: 1. Joint Revocable Trust: This type of agreement allows both spouses to be named as co-trustees and granters of the trust. They have equal control over the trust assets during their lifetime and can make changes to the trust as desired. 2. Separate Revocable Trusts: In this arrangement, each spouse establishes their own revocable trust, known as a separate trust. They can individually manage and control their respective trust assets while still enjoying the benefits of a revocable trust, such as probate avoidance and incapacity planning. 3. Survivor's Trust: This trust is created within the larger revocable trust and is designed to hold the assets of the deceased spouse. The surviving spouse becomes the trustee of this trust and continues to manage and distribute these assets according to the terms of the agreement. 4. Marital Trust: A marital trust, also known as an "A" trust, is commonly used in conjunction with a revocable trust for married couples. It provides financial support for the surviving spouse while preserving the ultimate distribution of the trust assets to the couple's chosen beneficiaries, such as children or other family members. 5. Disclaimer Trust: This type of trust allows the surviving spouse to disclaim or refuse some or all of the assets left to them by the deceased spouse. By doing so, the disclaimed assets pass into the revocable trust and are distributed according to its terms, potentially providing additional tax planning benefits. In conclusion, a Wisconsin Revocable Trust Agreement when Settlers Are Husband and Wife is a valuable estate planning tool that offers various options for married couples to jointly manage and distribute their assets. Whether choosing a joint trust, separate trusts, or incorporating specific trust provisions, it is crucial to consult with an experienced attorney to ensure that the trust agreement aligns with the couple's unique circumstances and objectives.