Oregon Complex Will - Max. Credit Shelter Marital Trust to Children
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How to fill out Complex Will - Max. Credit Shelter Marital Trust To Children?
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FAQ
A credit shelter trust (CST) is a trust created after the death of the first spouse in a married couple. Assets placed in the trust are generally held apart from the estate of the surviving spouse, so they may pass tax-free to the remaining beneficiaries at the death of the surviving spouse.
The CST allows a surviving spouse to maintain certain rights to the trust assets during the remainder of their lifetime. Upon the surviving spouse's death, the trust's assets are transferred to the remaining beneficiaries without any estate taxes levied. Credit shelter trusts are known as AB Trusts or Bypass Trusts.
Credit Shelter Trust vs Marital Trust - Is a Marital Trust the Same as a Credit Shelter Trust? No. A Marital Trust is a type of Credit Shelter Trust. You and your spouse can use a Marital Trust to pass assets to a surviving spouse, children or grandchildren.
The Oregon estate tax rate starts at 10% and can be as high as 16% of the value of the estate exceeding $1,000,000. By itself, a revocable living trust does not avoid estate taxes. However, a trust can be drafted to include tax-saving provisions.
Oregon Special Marital Property consists of any trust or other property interest, or portion thereof, in which principal or income may be accumulated or distributed to or on behalf of only the surviving spouse during his or her lifetime, and in which no one may transfer or exercise a power to appoint any part of the ...
A credit shelter trust (CST) is a trust created after the death of the first spouse in a married couple. Assets placed in the trust are generally held apart from the estate of the surviving spouse, so they may pass tax-free to the remaining beneficiaries at the death of the surviving spouse.
Credit shelter trust (CST) (also called an AB trust or a bypass 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.
Upon the death of the surviving spouse, the trust transfers to the heirs, who are exempt from the estate tax that would have resulted from a combined inheritance. Disadvantages of a CST include formation costs and the surviving spouse's lack of control.