A Credit Shelter Trust is an Estate Planning tool used by married couples specifically for the purpose of reducing estate taxes (or “death taxes”) due upon the death of the second spouse. The Credit Shelter Trust operates much the same way as a Disclaimer Trust by using the federal and state exemption amounts of the …
Tag Archive: trust
May
13
Washington Trusts: Disclaimer Trust
A “Disclaimer Trust” is a estate planning technique used by married couples in order to reduce or eliminate the estate taxes (federal and state) due upon the death of the surviving spouse (the last spouse to die). A Disclaimer Trust is one of several strategies that can be used in a will to accomplish efficient …
May
03
Washington Trusts: Revocable Living Trusts
A “Revocable Living Trust” is a trust established by a person (the “grantor”) during their life, most often for the purpose of using the trust to hold their assets (real estate, bank accounts, brokerage accounts, etc) so as to avoid probate upon their death. The grantor retains the ability to control and enjoy the use …
Apr
05
2011: Estate Planning in Washington State – The Good, the Bad and the Ugly
The Good News: Beneficial Changes to Federal Law for 2011 and 2012 After months of negotiations following the lapse of the Federal estate tax for 2010, Congress finally got around to enacting new estate tax rules at the end of last year. On December 17, 2010, the Tax Relief, Unemployment Insurance Reauthorization and Job Creation …