Backdating allocation of marital assets into survivor trust

Since Trust B is subject to estate tax, as long as the amount placed in it is less than the exemptable amount, no federal estate tax is due. Since Trust A is considered a marital deduction trust for the benefit of the surviving spouse, any assets put there are tax exempt.Trust A now becomes a revocable trust, and the survivor is wholly in control of its assets.A husband and wife each have their own exclusion amounts that can shelter their estates from Federal and state estate taxation.The federal estate tax exemption amount is portable, meaning that a surviving spouse and use the deceased spouse's unused exemption.When the estate is worth more than

Since Trust B is subject to estate tax, as long as the amount placed in it is less than the exemptable amount, no federal estate tax is due. Since Trust A is considered a marital deduction trust for the benefit of the surviving spouse, any assets put there are tax exempt.Trust A now becomes a revocable trust, and the survivor is wholly in control of its assets.A husband and wife each have their own exclusion amounts that can shelter their estates from Federal and state estate taxation.The federal estate tax exemption amount is portable, meaning that a surviving spouse and use the deceased spouse's unused exemption.When the estate is worth more than $1 million, the unlimited marital deduction simply postpones the estate tax.When the second spouse dies, his or her estate will include both spouse's assets, and there will be only a single exemption amount.Trust administration is a necessary process that occurs after the death of either one or both settlors.To protect the successor trustees, there are many things that must be done to ensure proper administration.

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Since Trust B is subject to estate tax, as long as the amount placed in it is less than the exemptable amount, no federal estate tax is due. Since Trust A is considered a marital deduction trust for the benefit of the surviving spouse, any assets put there are tax exempt.

Trust A now becomes a revocable trust, and the survivor is wholly in control of its assets.

A husband and wife each have their own exclusion amounts that can shelter their estates from Federal and state estate taxation.

The federal estate tax exemption amount is portable, meaning that a surviving spouse and use the deceased spouse's unused exemption.

When the estate is worth more than $1 million, the unlimited marital deduction simply postpones the estate tax.

million, the unlimited marital deduction simply postpones the estate tax.When the second spouse dies, his or her estate will include both spouse's assets, and there will be only a single exemption amount.Trust administration is a necessary process that occurs after the death of either one or both settlors.To protect the successor trustees, there are many things that must be done to ensure proper administration.

This happens when a married couple relies on Massachusetts tax rules that allow a person to leave any amount to their spouse free of estate tax.This type of trust can be useful for protecting assets in the event the surviving spouse remarries.In the absence of a marital trust, the new spouse could attempt to get money or assets from a surviving spouse’s inheritance if the couple divorces or the surviving spouse dies.Upon the death of the first spouse, the , receives the rest of the estate.Assets up to the federal estate tax exemption amount can be left to any non-spouse beneficiary in the family trust, and there will be no estate tax on the estate of the first spouse to die.

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