Who is the beneficiary of a martial Trust?
A martial trust protects the assets and benefits of a surviving spouse and children. In addition to a marital trust, a family member may set up a personal trust and formally name themselves as the beneficiary.
When does a marital trust go into effect?
DEFINITION of ‘Marital Trust’. Also called an “A” trust, a marital trust goes into effect when the first spouse dies. Assets are moved into the trust upon death, and the income that these assets generate go to the surviving spouse. Under some arrangements, the surviving spouse can also receive principal payments.
Can a marital trust be transferred to a surviving spouse?
A marital trust is a type of irrevocable trust that allows you to transfer assets to a surviving spouse tax free. It can also shield the estate of the surviving spouse before the remaining assets pass on to your children.
What is the purpose of a marital trust?
A marital trust is a legal entity established to pass assets to a surviving spouse or children/grandchildren. When a spouse dies, their assets are moved into the trust.
A martial trust protects the assets and benefits of a surviving spouse and children. In addition to a marital trust, a family member may set up a personal trust and formally name themselves as the beneficiary.
A marital trust is a type of irrevocable trust that allows you to transfer assets to a surviving spouse tax free. It can also shield the estate of the surviving spouse before the remaining assets pass on to your children.
DEFINITION of ‘Marital Trust’. Also called an “A” trust, a marital trust goes into effect when the first spouse dies. Assets are moved into the trust upon death, and the income that these assets generate go to the surviving spouse. Under some arrangements, the surviving spouse can also receive principal payments.
A marital trust is a legal entity established to pass assets to a surviving spouse or children/grandchildren. When a spouse dies, their assets are moved into the trust.