I have my growth portfolios taken care of but want to start income brokerages for my fiancee and I once we're married. I'm probably just gonna invest whatever extra money I have left at the end of the month into SPYI and QQQI. These accounts are not meant for growth, just immediate income generation that keeps growing as long as I put money into it. Basically just as a safeguard for tough times.
My fiancee and I do plan to combine our finances but I want these income generating funds to be distinct. I'm well aware of women's history and how many women were stuck in marriages because of having no financial control. I want my wife to be with me because she wants to be with me and to never feel stuck, so my initial plan was to just have two separate brokerages, one under my name and one under her name. They would pay out the income into our shared bank account but if one of us ever needed to leave, they'd have their own income they can take with them.
But lately I've been considering trusts, instead of two separate brokerage accounts. Would that be an option? I don't know much about trusts but I think, in theory, it would be cleaner to just have a trust, with one brokerage, that lists us both as beneficiaries that the trust pays the dividends out to. We might also move back to Europe at some point (she's American but I'm European) and I think having the funds in a trust would make things easier. I've read cases of people having to liquidate their personal brokerages when they move, which would come with a hefty tax bill considering the funds I plan to invest in, but being a beneficiary of a trust should still be possible even if you're in another country, right?
Also, it can't be an irrevocable trust because I do want to change it in the future. For example, once our children are old enough I'd like to add them as beneficiaries. But can a revocable trust be made to still have unchangeable rules? All I'd really need it to do is to make it impossible to remove someone as a beneficiary once they're added as one, plus add some safeguards for old age and cognitive decline, whatever those will be.
Again, I don't know much about trusts, but could someone point me in the right direction?