Credit Shelter Trust

By: Martin M. Shenkman, CPA, MBA, JD

A trust designed not to qualify for the unlimited estate tax marital deduction so that it will use up your lifetime $600,000 (and gradually up to $1,000,000 by the year 2006) exclusion (unified credit). Often the same as a by-pass trust because such a trust by-passes (is not included in) your surviving spouse's estate.

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