Trust A B Format
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.
These are trust options for couples who are married. Both are revocable until the death of the first spouse, and both can form two sub-trusts upon the death of the first spouse.
Disclaimer trust refers to a type of trust used by spouses to limit estate taxes. Spouses can agree to move assets the other spouse will receive upon their death into an irrevocable trust in their wills. This only occurs if the spouse chooses not to inherit the assets outright.
An AB Trust is a Trust created by married couples to help minimize estate taxes for the surviving spouse after one spouse passes away. This joint Trust allows the estate to be split into two parts (or Trusts) after the death of a spouse, and then be taxed ingly.
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.