Pass The 65 by Walker Robert

Author:Walker, Robert
Language: eng
Format: epub
Published: 2015-02-21T16:00:00+00:00

Bypass Trusts

For a very wealthy couple avoiding estate taxes can be a challenge both when the first spouse dies and when the second spouse passes. A bypass trust transfers the maximum amount subject to the unified credit into a trust whose income can be used by the surviving spouse over his or her lifetime. The surviving spouse cannot demand a distribution from corpus, but the trustee could use his discretion to make such a distribution.

When the surviving spouse dies, the assets in the bypass trust do not count towards his or her estate. In other words, when set up correctly, the assets that pass to a bypass trust avoid estate taxes for both spouses.

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