Trust A B With Destiny
Description
How to fill out Florida Marital Deduction Trust - Trust A And Bypass Trust B?
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FAQ
Why Is an A-B Trust Obsolete? A-B trusts aren't completely obsolete but they are not as common as they once were due to changes in estate tax law, primarily the fact that a couple now has extremely high estate tax exemptions. A-B trusts are primarily used to reduce estate taxes between married couples.
Trust B holds the assets of the grantor of the trust who has died, which typically consists of both the decedent's separate property and one-half of his or her community property. If the couple's community property totals $1,500,000, Trust B would then contain $750,000.
A dynasty trust is a long-term trust created to pass wealth from generation to generation without incurring transfer taxes, such as estate and gift taxes.
One of the most notable disadvantages of bloodline trusts includes the fact that the assets held within the trust can only be used for the beneficiaries' health, education, maintenance and/or support.
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.