Marital trust

Marital trust

A trust created to allow one spouse to transfer, during life or upon death, an unlimited amount of property to his/her spouse without incurring gift or estate tax.

Marital Trust

A trust into which one spouse deposits assets that transfer to the other spouse at some point in the future or upon the first spouse's death. A marital trust exists in order to avoid paying the estate tax. See also: Unlimited marital deduction.
References in periodicals archive ?
The reappearing value situation may be avoided or minimized by distributing to the marital trust of the first spouse the entire general partnership interest, assuming such interest either alone or in conjunction with the limited partnership interests also distributed to the marital trust, has the power to liquidate the partnership.
Most of the assets subject to estate tax in the decedent's estate were held either in a marital trust established on the death of the decedent's spouse or in the decedent's revocable trust, neither of which was subject to probate upon the decedent's death.
The trust called for the division of its assets into three subtrusts--a Survivor's Trust, a Marital Trust and a Bypass Trust when the first spouse dies, which ended up being dad live years ago.
The trust was divided into a marital trust fund and a family trust fund.
Stacy Eastland: Two of My Favorite 2012 Planning Ideas - The Leveraged GRAT and the Remainder Purchase Marital Trust takes place March 27, 2012 from3:30p.
Example: Q is a 69-year-old surviving spouse who is the beneficiary of a marital trust that is the beneficiary of the decedent's IRA, with a value of $1 million.
It is doubtful that the taxpayer was properly distributing the net income from Marital Trust A and Marital Trust B as required under Sec.
Emergency Estate Planning includes topics like the durable power of attorney for assets, medical power of attorney, probate process flow chart, trust concepts and applications, personal property trust, living trust basics, credit shelter trust and marital trust concepts, living trust for spouse and other heirs, quit claim deed into trust, and many more important concepts of estate planning.
When the second spouse died, estate tax would be imposed on the A trust assets, plus the assets in a marital trust.
The traditional plan (illustrated in Figure 1, next page) provides that each spouse has a pour-over will with a revocable trust incorporating by-pass (or credit shelter) and marital trust planning.
The Marital Share to the surviving spouse--outright or in a qualified marital trust (QTIP or QDOT)--takes advantage of the unlimited marital deduction.