Marital Trust Funding Formulas
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How to fill out Marital Deduction Trust - Trust A And Bypass Trust B?
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For example, a pecuniary formula clause might provide that the bypass trust is to be funded with that amount of the deceased spouse's estate that could pass tax-free as the result of the deceased spouse's unused exclusion amount, and that the balance of the estate is to be allocated to the marital trust.
An example of when a marital trust might be used is when a couple has children from a previous marriage and wants to pass all property to the surviving spouse upon death, but also provide for their individual children.
The marital deduction is determinable from the overall gross estate. The total value of the assets passed on to the spouse is subtracted from that amount, giving us the marital deduction. This interspousal transfer can occur during the couple's lifetime or after one spouse's death, ing to a will.
Pecuniary Non-Marital (Reverse Pecuniary) Formula. Using the non-marital or reverse pecuniary approach, a sum equal to the applicable exclusion amount, adjusted by any credits, deductions, and other non-marital bequests, goes to the non-marital share, with the balance remaining going to the marital share.
For example, a fractional formula would direct the trustee to allocate a portion of each asset to the marital trust ($2,400,00/$3,000,000 = 80%) and credit shelter trust ($600,000/$3,000,000 = 20%) in the proportion that each trust bears to the total value.