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Living Trust<br>Related Legal Information  

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Credit shelter trust


With a credit-shelter trust (also called a bypass or family trust), you write a will bequeathing an amount to the trust up to but not exceeding the estate-tax exemption. Then you pass the rest of your estate to your spouse tax-free. You also specify how you want the trust to be used -- for example, you may stipulate that income from the trust after you die goes to your spouse and that when he or she dies, the principal will be distributed tax-free among your children. Since your spouse is also entitled to an estate-tax exemption, the two of you can effectively double (or more than double) that portion of your kids' inheritance that is shielded from estate taxes by using this strategy.
 
And there's an added bonus: Once money is placed in a bypass trust it is forever free of estate tax, even if it grows. So if your surviving spouse invests it wisely, he or she may add to your children's inheritance, says attorney Roger Levine of Levine, Furman & Smeltzer in East Brunswick, N.J. Of course, you can pass an amount equal to the estate-tax exemption directly to your kids when you die, but the reason for a bypass trust is to protect your spouse financially in the event he or she has need for income from the trust or in the event you think your children will squander their inheritance before the surviving parent dies.
 
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Waldo County deeds

Republican Journal
Robert B. Congdon Credit Shelter Trust to Michael E. & Morgan J. Mueller Joint Revocable Trust. Bruce & Karen Claflin Family Trust to Bruce & Karen Claflin Family Trust. Bruce & Karen Claflin Family Trust to Bruce & Karen Claflin Family Trust. United ...
Waldo County deeds

East Jefferson real estate transfers for Sept. 23-27, 2017

NOLA.com
Arlington Drive 417: Janice Unland Credit Shelter Trust to Scott E. Guidry, $1,650,000. Bissonet Drive 4525: Lois E. M. Gingery to Jose R. Carmona and Stephanie L. Carmona, $224,000. Cuddihy Drive 304: Karen Bordelon, Theodore Offner Jr., and Linda ...
East Jefferson real estate transfers for Sept. 23-27, 2017
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