Is a marital trust an AB trust?
An A-B trust is a joint trust created by a married couple for the purpose of minimizing estate taxes. Upon the death of the first spouse, an A-B trust divides into two. It is formed with each spouse placing assets in the trust and naming as the final beneficiary any suitable person except the other spouse.
Does AB Trust get a step up in basis?
The appreciated assets in the B trust pass free of estate tax to the heirs at the second death, as was the goal of this trust. But the heirs receive no basis step-up, resulting in federal capital gains taxes of up to $119,000 ($500,000 × 23.8%), depending on the heirs’ income tax brackets.
Who was the founder of Hamilton County Ohio?
The southern portion of Hamilton County was originally owned and surveyed by John Cleves Symmes, and the region was a part of the Symmes Purchase. The first settlers rafted down the Ohio River in 1788 following the American Revolutionary War. They established the towns of Losantiville (later Cincinnati), North Bend, and Columbia.
What was the original boundaries of Hamilton County?
Its original boundaries were those defined for the Symmes purchase contract in 1788: the Ohio River in the South, Great Miami River to the west, the Lesser Miami River to the east, and the Cayuhoga River to the North. Its area then included about one-eighth of Ohio, and had about 2,000 inhabitants (not including the remaining Native Americans).
What was the name of the first county in Ohio?
History. The first settlers rafted down the Ohio River in 1788 following the American Revolutionary War. They established the towns of Losantiville (later Cincinnati) and Cleves . Hamilton County was organized in 1790, as the second county in the Northwest Territory. Its area then included about one-eighth of Ohio,…
Who is the prosecutor for Hamilton County Ohio?
After receiving nearly 60% of the vote, Joe was once again sworn in as Hamilton County Prosecutor on January 2, 2005. He has since been re-elected as Prosecuting Attorney in 2008, 2012, 2016 and 2020.