Basic Estate Planning - AB Trust

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Estate
Valued at:
$2,850,000
Balance of Assets, $1,350,000 to
"A" Trust
$1,500,000 to Estate Tax Exempt
"B" Trust
Basic Estate Planning - A/B Trust
1. Estate is Valued
2. Estate Tax Return is filed.
3. Trust "B" is funded.
As of 2004, this trust may be funded up to the amount sheltered by an estate tax credit, which is $1.5 million.
Under current law, this
amount will increase to
$3.5 million by 2009.
4. Trust "A" gets funded.
At the surviving spouse's death, all trust assets, plus all growth passes completely estate tax-free to children
At the surviving spouse;s death, Trust "A" and spouse;s assets are subject to estate taxes before going to children.