Bypass Trusts

What is it? Simply put, for estate planning purposes, you can exclude assets from someones estate by putting the assets into a trust. For example, to keep assets out of your spouses estate after you die, you can put the assets in a trust such that the spouse gets the income from the trust, but upon the spouses death, the body of the trust goes to the children. In essence, the spouses estate has been bypassed. For large estates, this can reduce estate taxes significantly.

Added By: Kennedy

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