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Complex Will - Credit Shelter Marital Trust for Spouse

Santa Clara California Complex Will - Credit Shelter Marital Trust for Spouse

Name: Santa Clara California Complex Will - Credit Shelter Marital Trust for Spouse
Brand: US Legal Forms
Rating: 4.83 (253 reviews)

Category:

Wills - Complex

State:

Multi-State

County:

Santa Clara

Control #:

US-COMPLEX3

Format:

Instant download

Description

This is a multi-state form covering the subject matter of the title.

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FAQ

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.

The most common technique used by married couples to reduce their estate tax bill and pass more on to their beneficiaries is the use of a Credit Shelter Trust, also referred to as a Bypass or Family Trust, coupled with a Marital Trust, also referred to as a Marital Deduction Trust or QTIP Trust.

Two of the more popular trusts are the Qualified Terminable Interest Property trust (QTIP) and the marital gift trust. Both of these trusts are considered credit shelter trusts because they preserve the estate tax exemption of the donor to be utilized at a later date by the trust beneficiaries.

A credit shelter trust is a trust that is established in the will or living trust of the first to die of a married couple, most often for the benefit of a surviving spouse. It is generally created to avoid estate taxes at a first spouse's death by taking advantage of the available federal estate tax credit.

A marital trust allows the couple's heirs to avoid probate and take less of a hit from estate taxes by taking full advantage of the unlimited marital deductiona provision that enables spouses to pass assets to each other without tax consequences.

A marital trust is a type of irrevocable trust that allows you to transfer assets to a surviving spouse tax-free. It can also shield the estate of the surviving spouse before the remaining assets pass on to their children.

Also called an "A" trust, a marital trust goes into effect when the first spouse dies. Assets are moved into the trust upon death and the income that these assets generate go to the surviving spouseunder some arrangements, the surviving spouse can also receive principal payments.

A Family Bank Trust, also known as Spousal Lifetime Access Trust (SLAT) is a lifetime trust for your spouse's benefit using annual exclusion gifts and the lifetime gift tax exemption. Again, these trusts can provide asset protection plus a reduction in overall estate taxes.

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.

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Accounting, taxation and litigation. Could go to the spouse.In the fall of 1999, a committee was established to revise the Santa Clara. County Child Abduction Protocol and develop a countywide resource document. PR012722J. Estate Planning Basic Skills. Housing Authority of the County of Santa Clara . Viable IP address logs that investigators could use to locate and apprehend users or administrators and locate and rescue child.

Santa Clara California Complex Will - Credit Shelter Marital Trust for Spouse

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What is a credit shelter?

What is credit shelter trust?

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Is a QTIP trust the same as a credit shelter trust?

What is a credit trust in Washington State?

What is the benefit of a marital trust?

What type of trust is a marital trust?

How does a spousal trust work?

What is a spousal protection trust?

What happens to a credit shelter trust when the surviving spouse dies?

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