Living Trust. Download online state specific estate planning (revocable living trust) documents. Void Probate
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To better understand the issues relating to your legal situation or problem, our legal information and other law related facts may be of interest to you
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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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Return to all Living Trust legal information
Legal Articles about Living Trust
Living Trust Frequently Asked Questions
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Problems Solved by Estate Planning
A living trust can solve many of the problems encountered in estate planning. Some ...
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Try to Avoid Probate with Living Trust
First of all, what is probate? We've heard various things about probate and we pretty ...
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The AB Living Trust Saves Taxes
Some people must consider federal estate tax when planning their finances. Estate tax ...
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How much are homes selling for near you?
Press of Atlantic City
509 May Pink Court, US Bank, Gsamp Trust 2007-He2, Mortgage Certificate Series 2007-He2, Ocean County Sheriff, Mcilhenny Eric B, Mcilhenny Erin C, Tuckerton Meadows Townhouse Association Inc to Gsamp Trust 2007-He2, Mortgage Pass Through ...
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How much? Lebanon County real estate transactions
Lebanon Daily News
Kay L. Cummings Estate to Jose F. Molina and Ana J. Jerez-Allam, 976 Reber St., $90,000. Amparo L. Martinez Credit Shelter Trust to Adam J. and Un Hui Breault, 1657 Oak St., $189,900. Helen R. Clarke to Angel M. Romero and Lilian M. Castillo, 127 E.
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