Unlimited marital deduction
Unified credit
(applicable credit amount)
Gifting
Trusts
- Asset management — the grantor or beneficiaries of the trust may lack the expertise to manage a large portfolio of assets.
- To benefit the grantor — the grantor can receive income from the trust and control its assets.
- To benefit or protect others — trusts can be set up for the care of minor children or incompetent persons.
- To divide property ownership among persons.
- Federal estate or income tax purposes — trusts can contain provisions to reduce federal estate or income taxes.
- For charitable purposes.
- For special needs planning.
Three common trusts include:
Related links
State Farm Life Insurance Company (Not licensed in MA, NY or WI)
State Farm Life and Accident Assurance Company (Licensed in NY and WI)
Bloomington, IL