Complex Will with Credit Shelter Marital Trust for Large Estates - Maine 2026

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  1. Click ‘Get Form’ to open it in the editor.
  2. Begin by entering your full name and address at the top of the document. This identifies you as the testator.
  3. In Item I, provide your spouse's name and list your children. Ensure all names are spelled correctly for legal accuracy.
  4. For Item II, appoint your spouse as the Executor. If applicable, designate a successor Executor.
  5. In Item III, specify how death taxes will be paid from your estate or trust assets. Clearly outline any conditions related to tax payments.
  6. Continue filling out Items IV through IX, detailing specific bequests and trust provisions. Be precise about asset distribution among beneficiaries.
  7. Complete the signature section at the end of the document, ensuring witnesses sign as required by Maine law.

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Additionally, assets that are placed in a credit shelter trust receive a one-time step-up in basis at the time the trust is funded.
One such drawback is their irrevocable nature; once established, the terms are generally set and cannot be easily altered. The surviving spouses estate may also be subject to increased estate taxes upon their death, depending on the trusts structure and the value of the assets.
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.
One of the disadvantages of a credit shelter trust is that it does not give the surviving spouse immediate access or full control over the trust assets. Instead, the spouse can generally receive income from the trust and may be allowed to use the trust principal to pay for health, education, and maintenance as needed.

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