Also known as an "A" trust, the marital trust provides management for assets passing to your spouse. The alternative is to leave assets for your spouse outright (no trust). A trust can add a level of comfort that someone is available to manage the assets. If no restrictions are placed on what happens to the assets after the second spouse dies, it's called a general power appointment. If you choose to control what happens after the second death, you need to establish a Qualified Terminable Interest Property trust or "QTIP" trust (a stricter form of marital trust).
Any one who has ANYTHING of value to protect, needs to be in TRUST!
Friday, February 15, 2013
Marital Trust
Also known as an "A" trust, the marital trust provides management for assets passing to your spouse. The alternative is to leave assets for your spouse outright (no trust). A trust can add a level of comfort that someone is available to manage the assets. If no restrictions are placed on what happens to the assets after the second spouse dies, it's called a general power appointment. If you choose to control what happens after the second death, you need to establish a Qualified Terminable Interest Property trust or "QTIP" trust (a stricter form of marital trust).
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