A legal entity set up as an irrevocable trust to shield a married couple from federal estate taxes upon the death of one spouse. The trust holds the assets of the first deceased spouse until the second spouse dies, and then assets are distributed without estate tax to survivors.
Related information about exemption trust:
- Exemption Trust Definition | Investopedia
A trust whose purpose is to drastically reduce or eliminate federal estate taxes for a married couple's estate. This type of estate plan sets up an irrevocable trust ...
- What Is an Exemption Trust?
An exemption trust is an irrevocable trust that provides estate tax relief for wealthy married couples. When a couple initiates an exemption trust, the assets of the ...
- Exemption Trusts and Federal Estate Taxes
WHAT IS AN EXEMPTION TRUST? An exemption trust is known by many names, including bypass trust, credit shelter trust, or B trust. Regardless of the name of ...
- Exemption Trust - Financial Dictionary - The Free Dictionary
A trust set up by a married couple into which both spouses agree to deposit all assets of the first spouse to die, even if they would otherwise go to the second ...
- Funding the Family Exemption Trust: Should You Leave All of Your ...
By Dennis L. Voelkel, Esq. Federal estate tax planning has become a less important planning objective for an increasing number estate planning clients due to ...
- Marital and Exemption Trusts - BNY Mellon Wealth Management
If you were to die in the year 2012, your exemption trust would be funded with ... $7,000,000 and you die in 2012, the exemption trust would be funded with ...
- exemption trust | LII / Legal Information Institute
A form of bypass trust limited to an amount no larger than the personal federal estate tax exemption for the year of death; the personal exemption protects this ...
- Exemption Trust- Family Offices Group
Exemption Trust definition: An exemption trust is irrevocable and avoids estate taxes on trust assets held by a married couple. The trust is funded from the first ...