Sometimes the term “family trust" refers specifically to a “credit shelter trust," “bypass trust," or “B trust," when it is used to reduce or eliminate state or federal estate taxes upon the death of a surviving spouse. A credit shelter trust is set up so that when one spouse dies...
Assign a single beneficiary designation, such as your surviving spouse or family member, or multiple beneficiaries, who will receive your assets at a preplanned time. Open a trust account and transfer money or property into it. At the time you’ve chosen, whether it’s at your death or som...
When the federal estate tax exemption was lower and trusts were more advantageous as a tax benefit for more people, a common type of trust for married couples was an “AB trust,” which was designed to let a surviving spouse benefit from any unused exemption amount that a deceased spouse di...
Without a trust, the deceased spouse can leave all his property to either:the surviving spouse to use the unlimited marital deduction; however, his GSTT exemption is lost, so that when the surviving spouse dies, only her GSTT exemption can be applied to the property, and if the property ...
(17) AB Trust Reformation & Judicial Relief For a Surviving Spouse (18) Trust Copies & Originals (19) Confidentiality Issues & Policies (20) Critical Trust Issues Arising In Divorce & Marriage A Comprehensive Living Trust A Master Assignment of Assets ...
Living Trusts help distribute assets quickly and privately. You can easily make an Irrevocable or Revocable Living Trust with us.
Some of the country's nine community property states permit certain kinds of agreements in which all community property passes on the death of one spouse to the surviving spouse. If cost saving is the motivating factor, we have found that in states where the probate process is streamlined and...
Connor, founder of The Connor Law Firm, focuses his efforts on Estate Planning, Living Trusts, Wills, Probate, Surviving Spouse Predator Protection Trusts, Children’s Divorce Protection Trusts, Special Needs Trusts, Gifting Trusts, Asset Protection Trusts, Pet Trusts, LLC formation, Estate ...
trust and can also give legal rights to children or other beneficiaries over a portion of the trust during the lifetime of the surviving spouse, increasing the potential for conflict. Furthermore, the split requires the filing of additional tax returns after the passing of the first spouse. ...
Parents of children with a congenital heart defect needing complex heart surgery are at high risk of developing health problems. One can assume that parents whose child undergoes heart surgery abroad will undoubtably face added and unique stressors and h