By pass trust
By: Martin M. Shenkman, CPA, MBA, JD
A by pass trust is known by many names: "B Trust", "Applicable exclusion trust", "Credit Shelter Trust", and more. Its purpose is to protect the value of assets transferred to it for the benefit of the surviving spouse (and perhaps other heirs) while assuring that those assets (and any appreciation in them) are not taxed in the surviving spouse's estate.
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