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A fiduciary relationship between a trustor and trustee for the benefit of a surviving spouse and the married couple's heirs. Also called an A trust, a marital trust goes into effect when the first spouse dies. Assets are moved into the trust upon death and the income generated by the assets goes to the surviving spouse. Under some arrangements, the surviving spouse can also receive principal payments.
Upon your death, the trustee is generally directed to either distribute the trust property to your beneficiaries, or to continue to hold it and manage it for the benefit of your beneficiaries. Like a will, a living trust can provide for the distribution of property upon your death. living trust can help you manage your assets or protect you should you become ill, disabled or simply challenged by the symptoms of aging. Most living trusts are written to permit you to revoke or amend them whenever you wish to do so.