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Complex Will with Credit Shelter Marital Trust for Large Estates - Maryland

Complex Will with Credit Shelter Marital Trust for Large Estates - Maryland 2025

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This document is a Last Will and Testament outlining the distribution of the testator's estate upon their death. It includes provisions for appointing an executor, bequeathing assets to the spouse and children, establishing a family trust, and addressing tax obligations. The will specifies how personal property, real estate, and other assets should be managed and distributed, ensuring that the needs of the spouse and children are prioritized. Additionally, it provides guidelines for the trustee's powers and responsibilities in managing the trust.

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How to use or fill out Complex Will with Credit Shelter Marital Trust for Large Estates - Maryland

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Click ‘Get Form’ to open it in the editor.
Begin by entering your name and address in the designated fields at the top of the document. This identifies you as the testator.
In Item I, provide your spouse's name and list your children. Ensure all names are spelled correctly to avoid any legal issues.
For Item II, appoint your spouse as the Executor. If you have a successor in mind, include their name as well.
In Item III, specify how death taxes will be handled. Clearly indicate if they should be paid from the family trust or your residuary estate.
Continue filling out Items IV through IX by detailing specific bequests and trust provisions. Be precise about asset distribution to ensure clarity.
Review all entries for accuracy before saving or printing the document. Make sure all necessary signatures are included at the end of the will.

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Got questions?

We have answers to the most popular questions from our customers. If you can't find an answer to your question, please contact us.

Is it better to have a will or trust in Maryland?

There are many advantages to a living trust. These instruments can help avoid Probate proceedings and allow for money and assets to be distributed sooner and more privately. Living trusts are also flexible, and can be amended more easily than a will.

Are marital trust assets included in an estate?

The assets transferred into the marital trust are not subject to estate taxthey are tax free because they qualify for the unlimited marital deduction.

Is a credit shelter trust a complex trust?

This type of Credit Shelter Trust is known as a Complex trust as it allows for the accumulation of income rather than required distributions. Note the options presented to the trustee(s): If the spouse needs all of the income, he/she/they can get it.

What happens to a credit shelter trust when the surviving spouse dies?

When the surviving spouse dies, any remaining principal can be distributed to children or remain in trust for their benefit, as you direct. Even though the surviving spouse has access to income (and principal, if needed), the assets in the credit shelter trust are not considered part of the survivors taxable estate.

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