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A bypass trust is a long-term planning device. It is typically created as part of an A/B Living trust estate plan after the death of the first spouse to die. During life, a married couple transfers ownership of property into a trust. Upon the death of the first party to die, the terms of the trust require that some portion of the property be ...
An AB trust, also known as a bypass trust, divides a married couple’s estate into two separate legal entities (trust A and trust B) when the first of the two people dies. Trust B receives assets ...
QTIP trust is a type of trust and an estate planning tool used in the United States. "QTIP" is short for "Qualified Terminable Interest Property." A QTIP trust is often used in order to take advantage of the marital deduction and still control the ultimate distribution of the assets at the death of the surviving spouse.
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t. e. United States trust law is the body of law that regulates the legal instrument for holding wealth known as a trust. Most of the law regulating the creation and administration of trusts in the United States is now statutory at the state level. In August 2004, the National Conference of Commissioners on Uniform State Laws created the first ...
One of the common estate planning tips for investors is to get a trust to protect their assets. However, that advice is hardly specific enough. There are many types of trusts, and each has its ...
A general power of appointment is a key element of a type of marital deduction tax law as prescribed in Internal Revenue Code §2056(b)(5). It is a trust that qualifies for the marital deduction, provided that the surviving spouse is given the income at least annually and the surviving spouse has a general power of appointment over the trust ...
A qualified domestic trust (QDOT) is a specific type of trust that can offer tax benefits for married … Continue reading → The post Qualified Domestic Trust (QDOT): Marital Deduction appeared ...