Revocable Trust Setup

[Wilson Pereira]

For those of you that setup a revocable living trust with your spouse/partner for your real estate LLCs and other assets such as bank accounts, did you setup a single revocable trust or separate trusts? My attorney advised me and my spouse to setup separate revocable trusts for asset protection but I'm finding that some financial institutions do not allow accounts to be held in title under more than one trust. My spouse and I prefer not having to split things up and retitle ownership under separate individual trusts. Most of our assets are jointly owned. Should we reconsider our attorney's recommendation and go for a single revocable trust or is there a more efficient way to handle this with separate individual trusts? 

[Account Closed]

Quote from @Wilson Pereira:

For those of you that setup a revocable living trust with your spouse/partner for your real estate LLCs and other assets such as bank accounts, did you setup a single revocable trust or separate trusts? My attorney advised me and my spouse to setup separate revocable trusts for asset protection but I'm finding that some financial institutions do not allow accounts to be held in title under more than one trust. My spouse and I prefer not having to split things up and retitle ownership under separate individual trusts. Most of our assets are jointly owned. Should we reconsider our attorney's recommendation and go for a single revocable trust or is there a more efficient way to handle this with separate individual trusts? 

 The more trusts you have the more legal fees. I would suggest just keeping it simple with a single one