This Complex Will with Credit Shelter Trust for Large Estates form is a complex Will designed to enable a couple to maximize the amount of property that can pass free of estate taxes. The Will leaves the maximum tax free amount allowed (i.e. 1,000,000.00 as of 2001) to a trust and the remainder of property to the surviving spouse. All of the property passing to the Spouse is estate tax free. Therefore, no estate taxes are due at the death of the first Spouse. Since the trust has 1 million dollars that can pass to the children tax free, the surviving spouse can also leave 1 million to a similar trust or children and thereby enable 2 million dollars instead of 1 to pass to the children estate tax free. Income from the trust can be disbursed to the surviving spouse and children.
Green Bay Wisconsin Complex Will with Credit Shelter Marital Trust for Large Estates A Green Bay Wisconsin Complex Will with Credit Shelter Marital Trust is a sophisticated estate planning tool designed specifically for individuals with large estates. This type of estate plan allows individuals to maximize their estate tax exemptions and provide for the financial well-being of their spouse and beneficiaries. Keyword: Green Bay Wisconsin Complex Will The Green Bay Wisconsin Complex Will is a legal document that outlines the distribution of assets upon the individual's death. It incorporates various provisions to ensure the estate is distributed according to the individual's wishes and to minimize estate taxes. Keyword: Credit Shelter Marital Trust The Credit Shelter Marital Trust, also known as the Bypass Trust or the A/B Trust, is a mechanism that allows individuals to take advantage of estate tax exemptions. It is created upon the first spouse's death and holds assets in trust for the benefit of the surviving spouse, while not subjecting them to estate taxes. Keyword: Large Estates This estate planning strategy is particularly suitable for individuals with large estates, exceeding the federal estate tax exemption threshold. By utilizing the Credit Shelter Marital Trust, they can utilize their tax exemptions effectively and protect their assets for future generations. Types of Green Bay Wisconsin Complex Will with Credit Shelter Marital Trust for Large Estates: 1. Irrevocable Trust: This type of trust is created during the individual's lifetime and cannot be modified or revoked. It provides substantial estate tax advantages and offers asset protection benefits. 2. Dynasty Trust: This trust is designed to ensure wealth preservation for multiple generations. It allows individuals to transfer assets to their grandchildren or even further descendants, while still taking advantage of estate tax exemptions. 3. Charitable Remainder Trust: This type of trust allows individuals to leave a portion of their assets to charitable organizations, while still providing income for their surviving spouse during their lifetime. 4. Qualified Personnel Residence Trust: This trust enables individuals to transfer their primary residence or vacation home to their beneficiaries at a reduced gift tax value while allowing them to continue living in it for a specified period. In conclusion, a Green Bay Wisconsin Complex Will with Credit Shelter Marital Trust is a specialized estate planning tool for individuals with large estates. Utilizing different types of trusts, such as Irrevocable Trusts, Dynasty Trusts, Charitable Remainder Trusts, and Qualified Personnel Residence Trusts, individuals can protect their assets, minimize estate taxes, and ensure the financial well-being of their loved ones.Green Bay Wisconsin Complex Will with Credit Shelter Marital Trust for Large Estates A Green Bay Wisconsin Complex Will with Credit Shelter Marital Trust is a sophisticated estate planning tool designed specifically for individuals with large estates. This type of estate plan allows individuals to maximize their estate tax exemptions and provide for the financial well-being of their spouse and beneficiaries. Keyword: Green Bay Wisconsin Complex Will The Green Bay Wisconsin Complex Will is a legal document that outlines the distribution of assets upon the individual's death. It incorporates various provisions to ensure the estate is distributed according to the individual's wishes and to minimize estate taxes. Keyword: Credit Shelter Marital Trust The Credit Shelter Marital Trust, also known as the Bypass Trust or the A/B Trust, is a mechanism that allows individuals to take advantage of estate tax exemptions. It is created upon the first spouse's death and holds assets in trust for the benefit of the surviving spouse, while not subjecting them to estate taxes. Keyword: Large Estates This estate planning strategy is particularly suitable for individuals with large estates, exceeding the federal estate tax exemption threshold. By utilizing the Credit Shelter Marital Trust, they can utilize their tax exemptions effectively and protect their assets for future generations. Types of Green Bay Wisconsin Complex Will with Credit Shelter Marital Trust for Large Estates: 1. Irrevocable Trust: This type of trust is created during the individual's lifetime and cannot be modified or revoked. It provides substantial estate tax advantages and offers asset protection benefits. 2. Dynasty Trust: This trust is designed to ensure wealth preservation for multiple generations. It allows individuals to transfer assets to their grandchildren or even further descendants, while still taking advantage of estate tax exemptions. 3. Charitable Remainder Trust: This type of trust allows individuals to leave a portion of their assets to charitable organizations, while still providing income for their surviving spouse during their lifetime. 4. Qualified Personnel Residence Trust: This trust enables individuals to transfer their primary residence or vacation home to their beneficiaries at a reduced gift tax value while allowing them to continue living in it for a specified period. In conclusion, a Green Bay Wisconsin Complex Will with Credit Shelter Marital Trust is a specialized estate planning tool for individuals with large estates. Utilizing different types of trusts, such as Irrevocable Trusts, Dynasty Trusts, Charitable Remainder Trusts, and Qualified Personnel Residence Trusts, individuals can protect their assets, minimize estate taxes, and ensure the financial well-being of their loved ones.
