What is it?
Marital trust used in conjunction with bypass trust to minimize estate taxes and provide for children
A marital trust (also known as an A trust) is a type of trust that is used by married couples, usually in conjunction with a bypass trust , to minimize federal estate tax, allow the surviving spouse to benefit from family wealth during his or her continuing life and to ensure assets ultimately pass to individuals specified by the deceased spouse. Typically, a marital trust and a bypass trust will be used by married couples who expect to have assets in excess of the federal applicable exclusion amount (the amount that can be sheltered from federal gift and estate tax by the unified credit) at the death of the first spouse.