Credit Shelter Trust
Definition of "Credit shelter trust"
Vehicle through which the federal estate tax credit is protected from estate tax payment. The procedure is to leave the federal estate tax credit to the shelter trust with the trust established for the benefit of one's spouse (spouse receives the income from the trust and the assets of the trust are held for the benefit of the spouse). The assets of the trust are not subject to federal estate tax upon the death of the spouse since the assets are not in the spouse's estate at that time.
Popular Insurance Terms
Exchange of a new policy for one already in force. ...
Death payment that increases with the age of an insured. Graded benefits may increase gradually and then level off, or may increase sharply before becoming level. This type of coverage is ...
Coverage for the insured in the event that the insured's negligent acts and/or omissions result in losses in connection with the use, ownership, or maintenance of aircraft. Liability ...
Coverage on an all risks basis at any location for stamp and coin collections, excluding wear and tear, war, nuclear disaster, and mysterious disappearance. Usually each item is ...
Financial guarantee policy that insures against loss of principal invested in a mutual fund. ...
Endorsements to life insurance policies that provide additional benefits or limit an insurance company's liability for payment of benefits under certain conditions. These include: Waiver of ...
Insurance company that has no outstanding shares of stock, such as a mutual insurance company. ...
Coverage provided on an all risks basis for an exhibitor whose product, while being displayed at a public exhibition, is damaged or destroyed by a peril that is not specifically excluded in ...
Form of excess of loss reinsurance under which each year's reinsurance premium is determined by the amount of the cedent's excess losses for a given period of time, usually three or five ...
Have a question or comment?
We're here to help.