Marital Deduction Trust

Trust Book by Jay Lashlee Book

Option One

The IRS’ marital deduction allows a spouse to pass on assets to the surviving spouse without those assets being taxed.

A marital deduction trust is created to protect the assets of both spouses from federal estate taxes when they die. So how does a marital trust work?

When the first spouse dies – let’s say the husband – his assets pass not to his surviving wife but to the marital deduction trust and no federal estate taxes are due. While the wife is still living, the trust generates income for her. When she dies, the assets in the marital deduction trust are not part of her estate, so are therefore not subject to federal estate taxes.

    To qualify for a marital deduction trust:
  1. The surviving spouse must be the only beneficiary of the trust during his or her lifetime
  2. The surviving spouse must have unrestricted power over how the trust assets are bestowed upon his or her death
  3. All trust income must be given to the surviving spouse on an annual basis during his or her lifetime
  4. The trust must specify who will receive the trust assets upon the death of the surviving spouse
  5. A trustee must also be appointed, and all the assets in the trust must be specified in the trust document.
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Option Two

Create multiple trusts with various benefits.

See more...

  1. Domestic Partnership Trusts
  2. Trust Funds For Minor Kids
  3. Guardians for Minor Children & Trusts
  4. Offshore Trusts
  5. Education Trusts
  6. 529 Plan Education Trusts
  7. Family Business Safety, Success, and Transfer
  8. Spenthrift Trust
  9. Crummey Trust
  10. IPUG Irrevocable Pure Grantor Trust
  11. Private Asset Protection Trust
  12. Avoid Family Conflicts Trust
  13. Marital Deduction Trust
  14. Marriage or No Marriage Trust
  15. Pet Care & Pet Guardian Trust
  16. Easy Prenuptial Agreement Trust
  17. Senior Protection Trust
  18. Family Living Revocable Trust
  19. Revocable or Irrevocable Trust?
  20. Types of Trusts to Avoid
  21. Get a Private Asset Protection Trust Quote

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