Mark Kohler explains how a credit shelter trust preserves your $16 million estate tax exemption, or $32 million for married couples. You don't need an irrevocable trust to get this benefit. A revocable trust with an AB provision does the same thing.
A credit shelter trust is protecting that lifetime credit that you have when you do estate planning.
Yeah, which is like $16 million approximately, you know, and if you're a married couple, that means the trust will split into 2 and it shelters the credit so that the surviving spouse gets another $16 million so that between the 2 of you, you'll have $32 million passing without estate tax without having to do an irrevocable trust, by the way. You're really just setting up a regular revocable trust now that just has this credit shelter or AB provision in it.
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