If you are in the process of planning your estate with your spouse, a bypass trust may be an excellent option for you. The purpose of the bypass trust is simple: It guarantees that your estate, if left to each other, will only be taxed once. For example, if a man and a woman [...]
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What is a Crummey Trust?
Thursday, January 28th, 2010One of the downfalls of leaving a large estate to your children is the subject of estate taxes. These taxes can be considerable. Many people opt to gift money to their children to avoid paying estate taxes. Others set up trusts, in many cases Crummey Trusts in order to protect their estate and their children’s [...]