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A marital trust is an irrevocable trust that lets you transfer a deceased spouses assets to the surviving spouse without incurring any taxes. The trust also protects assets from creditors and future spouses the surviving spouse may encounter.
The primary benefit of CSTs is that the surviving spouse can use the trusts principal and income during the remainder of their lifetime, for example, for medical or educational expenses. The remaining assets then pass to the beneficiaries and are not subject to estate taxes.
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.
Key reasons for considering a trust: Control. A trust can control who will receive distributions, as well as when those will occur and on what terms. Protection. Privacy and probate savings. State estate and inheritance taxes. Incapacity planning. Charitable giving. Life insurance ownership. Special needs planning.
Yes, a Disclaimer Trust is often referred to as a Credit Shelter Trust. This is because married couples will add in the option for the surviving spouse to disclaim the first spouses assets and move them into a Disclaimer Trust.
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The assets in a QTIP enjoy protection from taxation since it falls under marital deductions. However, money within the Trust does become subject to taxation when the second spouse passes. The liability for these taxes will simply fall to other named beneficiaries, such as children or other relatives.
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.
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.
For many couples, the only asset available to fund the credit shelter trust is an IRA. In order to provide the surviving spouse with maximum flexibility, the account owner could name the surviving spouse as the primary beneficiary and designate the credit shelter trust as the contingent beneficiary of the IRA.
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.

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