Description: A Credit Shelter Trust is designed to allow affluent couples to reduce or completely avoid estate taxes when passing assets on to heirs, typically the couple's children. This type of irrevocable ...
DA: 64 PA: 52 MOZ Rank: 42
Description: A Revocable Credit Shelter (By-Pass) Trust is a type of Revocable Living Trust. Because the trust is revocable, the Grantor may access trust assets or change the terms of the trust at anytime during his or her lifetime. Unlike a will, a revocable living trust is not subject to probate.
DA: 72 PA: 53 MOZ Rank: 78
Description: Without a Credit Shelter Trust, either through a revocable living trust or a testamentary trust, the first spouse would have died leaving the survivor a total of $2 million.Upon the death of the second spouse, the estate now has $2 million and an estate tax exclusion of only $1 million. That leaves an estate tax bill of 45% of $1 million or $450,000 – money that could have gone to ...
DA: 81 PA: 34 MOZ Rank: 59
Description: The credit shelter trust is a trust that holds an amount of assets from a decedent’s estate that is equal to the portion of allowable tax-free transfer that the decedent didn’t use during his or her lifetime. The allowable tax-free transfer is also called the applicable exclusion amount. The transfer tax system in the United […]
DA: 52 PA: 99 MOZ Rank: 54
Description: Upon the death of the first spouse, the Credit Shelter Trust or Bypass Trust splits into sub-trusts A and B. “Trust A” becomes the Marital Deduction Trust for the benefit of the surviving spouse and “Trust B” holds the assets of the decedent. “Trust A” remains a revocable trust controlled by the surviving spouse.
DA: 71 PA: 84 MOZ Rank: 40
Description: The credit shelter trust also can shield the growth on the federal exclusion while portability only preserves the date of death value of the exclusion. For example, let’s assume the deceased spouse died when the exclusion was $5.49 million. Let’s further assume asset growth of 6% and a surviving spouse living another 12 years.
DA: 86 PA: 60 MOZ Rank: 72
Description: This type of credit shelter trust is also referred to as a by-pass trust or an A-B trust. The purpose of this type of trust is to minimize the overall estate tax paid by the estates of the two spouses. To accomplish this goal, the trusts separate assets into various shares, including marital and credit shelter shares. ...
DA: 1 PA: 83 MOZ Rank: 17
Description: Free Living Trust Information is the best place on the web for information you can trust about living trusts, medicaid trusts, and credit shelter trusts. ... (sometimes referred to as a revocable living trusts). ... We also have information about different types of living trusts including credit shelter and medicaid trusts.
DA: 57 PA: 25 MOZ Rank: 26