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Klenk Law

Marital Trusts

What is a Marital Trust?

A Marital Trust, or as it is sometimes called, the “A Trust,” is an Irrevocable Trust designed to hold the deceased spouse’s assets that exceed the amount that can be sheltered from death taxes. The Marital Trust assets are not taxed at the first spouse’s death, but they are part of the second spouse’s estate. If the second spouse is not wealthy, this allows the use of both spouses’ exemptions without actually giving the less wealthy spouse ownership.

What is the Purpose of a Marital Trust?

The Marital Trust shelters the assets from the surviving spouse’s creditors and future spouses. The Bypass Trust can also be crafted to ensure that the property passes to the deceased spouse’s children or family at the surviving spouse’s death, keeping them out of the hands of the second husband/wife.

Typical Estate Questions About Marital Trusts:

Here are some questions clients, beneficiaries, and Trustees ask:

How does the Marital Trust protect a beneficiary from death taxes?

The Marital Trust allows a married couple to act as a team, maximizing their combined estate and generation-skipping tax exemptions.

What are the pros of the Marital Trust?

Tax avoidance, asset protection and providing the opportunity to keep assets within the family bloodline.

What are the cons of a Marital Trust?

The Marital Trust has a tax ID and must file a separate tax return.

Can Anyone be a Marital Trust Beneficiary?

The surviving spouse must be the only beneficiary.

Can only a Spouse be a Marital Trust Beneficiary?

Yes, to meet the estate and generation-skipping tax requirements, the spouse must be the sole beneficiary.

Reasonable Prices | Years of Experience | We Make Trusts and Estate Planning Easier

If you have any questions about Marital Trusts or any other estate planning topics, feel free to contact us to schedule a free consultation. For more than two decades Klenk Law has focused only on Estate Law. We’ve seen it all, and this experience allows us to explain complex estate law and planning techniques clearly and concisely. We make it easy for you to understand Marital Trusts and Estate Planning so you can make the best decisions for yourself and your family.

What Our clients are saying

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I met Peter soon after he started his practice in Philadelphia, PA. He and his team have always been there for me and my various inquiries throughout my life-changing events, corporate relocations. I have lived in various cities throughout the nation, I have never had a problem in contacting Peter or a member of his team. He and his office responds quickly and returns calls to me to fulfill my requests for information or to revise my estate needs while posing relevant thought-provoking questions that I need to consider to secure my future. One of Peter's best qualities is his ability to answer clients complicated questions in a simple way to ensure comprehension.

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Peter Klenk & Associates is my go-to firm for estate planning and advice in probate and estate administration. Peter and his attorneys are top-notch and exceptionally responsive. Peter has the knack of being able to explain extremely complex tax and estate planning issues in a manner that clients are easily able to understand and comprehend allowing them to confidently make important decisions.

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Peter Klenk is an extraordinary attorney with positive guidance and knowledge for all of your Trust and Estate needs. We have used him for over 20 years.

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I contacted Peter through his website using the free consultation link for a question regarding a will. While I was expecting only a few minutes, it was a lengthy conversation. He made sure he understood the situation by asking many questions before offering advice. He then went through my options and results of each one. He left it up to me to decide if I wanted to proceed and did not push me toward one or another. His website has very useful information which I definitely researched before I called him. While I decided not to proceed at this time, I feel I had enough information to make that decision. I would not hesitate to hire him should I need to in the future.

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AWESOME LAWYER! Peter Klenk is an exceptional attorney and a very nice person! Today I spoke with Peter about estate planning and was impressed with by his professionalism, cordiality, and attention to detail. I highly recommend Klenk Law for probates, wills, trusts, and other issues germane to estate planning!

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