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
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Year in which an annually renewable insurance policy was first issued. ...
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Legislation to eliminate most tax shelters and write-offs in exchange for lower rates for both corporation and individuals. It was intended to be revenue neutral; that is, to bring in the ...
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