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A Bypass Trust is a sub-Trust that becomes irrevocable after the first spouse dies. A Bypass Trust is sometimes called a Residual Trust, a Family Trust, or a Tax Avoidance Trust.
There are three types of marital trusts: a general power of appointment, a qualified terminable interest property (QTIP) trust, and an estate trust. A martial trust protects the assets and benefits of a surviving spouse and children.
A bypass trust can still be useful in some circumstances. If your estate is greater than the current estate tax exemption, a bypass trust is still a good way to protect your assets from the estate tax.
Credit Shelter Trust vs Marital Trust - Is a Marital Trust the Same as a Credit Shelter Trust? No. A Marital Trust is a type of Credit Shelter Trust. You and your spouse can use a Marital Trust to pass assets to a surviving spouse, children or grandchildren.
A bypass trust (also called a B trust or a credit shelter trust) is a trust that can be used by married couples in conjunction with a marital trust to minimize federal estate tax that will be due on their combined estates.

People also ask

A Bypass Trust, or as it is sometimes called, a Credit Shelter Trust, Family Trust or B Trust, is an Irrevocable Trust designed to hold an amount that can be sheltered from death taxes.
Primary tabs. Qualified Terminable Interest Trust (QTIP Trusts) are an estate planning tool used to maximize a couples applicable exclusion amounts while qualifying for the marital deduction. Full property interest transfers to spouses do not trigger most gift or estate taxes under the marital deduction.
A QTIP trust is an irrevocable trust that pays income generated from the assets to a spouse. When that spouse dies, the assets pass to the beneficiaries named by the grantor.
A credit shelter trust (CST) is a trust created after the death of the first spouse in a married couple. Assets placed in the trust are generally held apart from the estate of the surviving spouse, so they may pass tax-free to the remaining beneficiaries at the death of the surviving spouse.
May the Surviving Spouse Act as Trustee? Yes, the surviving spouse may serve as trustee of the credit shelter trust. If the spouse serves as the sole trustee he or she must be restricted to using income and principal for needs related to health, education, support and maintenance.

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