Trust A B For A Boy
Description
How to fill out Florida Marital Deduction Trust - Trust A And Bypass Trust B?
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FAQ
AB trust (also called a bypass trust or a credit shelter trust) is a tool used by well-off married individuals to legally maximize their estate tax exemptions. The strategy involves creating two separate trusts after one spouse passes.
Bypass trust ? The ?B Trust? in A-B trust planning that is sheltered from the federal estate tax by the decedent's estate tax exemption amount. Because this trust ?bypasses? the estate tax in the decedent's estate and at the surviving spouse's death, this trust often is called a bypass trust.
AB Trust Estate Planning can be most beneficial for couples who live in a state without a portability for exemptions. Essentially, an AB Trust could help these individuals avoid state estate taxes. AB Trusts can also help ensure your beneficiaries are not changed by your spouse after your death.
AB Trusts. An AB Trust is similar to a Joint Trust. It's used to minimize estate taxes by married couples. The Trust is named AB because it splits into two Trusts upon the first member's passing - the ?A? Trust becomes the Survivor's Trust and the ?B? Trust is the decedent's.
Here's an AB trust example. John and Mary are married and set up an AB living trust. If John dies first, his share of the trust turns into a living irrevocable trust. Mary is allowed to access the income from the trust during her life, but not the principal.