And more all. When have minor children when you die with planning in place, children are each going to get their share of inheritance when they turn nineteen. Yes, the law requires this fact! The law also does not discriminate as we age when it comes to bequest. So, your 20-year-old son and your 2-year-old son will inherit the equivalent money! Not what most parents possess wanted.

What options do you recommend and why? Although tax law is tax law, when planning your taxes and estate, a "one-size-fits-all" approach simply doesn't seem. The tax advisor should be given the option to tell you the as well as disadvantages different estate planning options and or perhaps she end up being aware of compliance with and variations in tax policy.

So, what the A-B Revocable living trust is built to to do is to capture and preserve the federal estate tax unified credit amount available when your first spouse perishes. It does this making what generally called the "credit shelter" trust.

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The living trust Marilyn and George created specified two new trusts, referred to as an A/B trust, and could well be set up when earlier spouse deceased. The living trust also specified that (a) the surviving spouse would serve as trustee in the "B" trust