that don’t go into a family trust can go into a trust for the surviving spouse. Any asset amount can go into such a trust, free of estate tax.
The following list of conditions may help you determine if a trust would be right for you.
- You have sizable assets.
- You want your estate to be payable to your heirs upon their meeting certain conditions, such as graduating from college, not necessarily immediately after your death.
- You have a disabled relative you would like to provide for without disqualifying that person from Medicaid or Medicare.
- You want to reduce estate and gift taxes.
- You want to protect your assets from creditors and lawsuits.
- You’d like to ensure that the principal or remainder of your estate goes to your children or other heirs after your spouse dies.
- You’d like to maximize estate tax exemptions for yourself and your spouse.