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A bypass trust is a long-term planning device. It is typically created as part of an A/B Living trust estate plan after the death of the first spouse to die. During life, a married couple transfers ownership of property into a trust.
For example, a bypass trust is designed to meet the cash-flow needs of a surviving spouse, but it will transfer to the surviving spouse's beneficiaries, which are named in the trust, after his or ...
A trust is a document that allows you to keep control of your money and property and designate who receives it once you die. “Revocable” means you can change the terms at any time while you ...
An AB trust, also known as a bypass trust, divides a married couple’s estate into two separate legal entities (trust A and trust B) when the first of the two people dies. Trust B receives assets ...
A Charitable Remainder Annuity Trust (CRAT) is a Planned Giving vehicle defined in §664 of the United States Internal Revenue Code [1] that entails a donor placing a major gift of cash or property into an irrevocable trust. The trust then pays a fixed amount of income each year to the donor or the donor's specified beneficiary.
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A trust fund is a legal entity that holds and manages assets on behalf of another individual or organization. A will, on the other hand, is a legal document that directs the distribution of assets ...
A revocable, or “living” trust is a commonly used type of trust that allows the grantor — the trust’s creator — to make changes, or even cancel the trust, based on their preferences.