Potential advantages of using alter ego and joint partner trusts include the following:

  • The person or persons who make the trust can designate who they want to receive the trust property upon their death but, unlike a will, the trust property will not go through the probate process and the trust document will not normally become public;
  • Funds can be more readily available to beneficiaries upon the death of the person or persons who made the trust, because using trusts can avoid estate administration delays;
  • Trusts are generally less susceptible to challenges brought by persons who are not involved in the trust, its management, or its administration; and
  • In some cases, creditors may be avoided by using a trust.