Contact Us Today 979-703-7014

News & Articles

A Conroe Trust Lawyer Discusses the Advantages of a Credit Shelter Trust

Posted by Chris Peterson | Nov 14, 2013 | 0 Comments

A Conroe Trust Lawyer Discusses the Advantages of a Credit Shelter Trust

credit shelter trustThere are a number of advantages to transferring your wealth and assets into a trust. As well, there are dozens of trust options available under Texas law, many of which serve as shelters from the IRS or other governmental entities.

A credit shelter trust is a special kind of trust that will protect you and your beneficiaries from the impact of the federal and state estate tax, if applicable to your portfolio. Drafted properly, the same credit shelter trust may also be helpful in qualifying for certain programs like Medicaid. For more information about whether a credit shelter trust is the best option for your estate plan, we encourage you to contact the Peterson Law Group as soon as possible.

Features of a Credit Shelter Trust Many people choose to transfer assets into a trust to avoid the unnecessary imposition of federal and state estate taxes. The credit shelter trust is especially advantageous for married couples, as it allows the testator (person making the trust) the opportunity to avoid imposing the tax on his beneficiaries and heirs. Specifically, the credit shelter trust transfers wealth to the trustor's chosen beneficiaries (usually his children) but allows the surviving spouse to maintain rights to the trust assets and income for the remainder of her life.

Contact a Conroe Trust Lawyer Today If the credit shelter trust seems appealing to you and your estate plan, we encourage you to contact a Conroe trust lawyer at the Peterson Law Group today. Please call us at 936-337-4681.

About the Author

Chris Peterson

Chris Peterson is the owner of Peterson Law Group. He practices primarily in the areas of wills, trusts and estate planning; probate and trust administration; elder law; and business law. Chris is also the owner of Brazos 1031 Exchange Company.


There are no comments for this post. Be the first and Add your Comment below.

Leave a Comment

Contact Us Today

Peterson Law Group
979-703-7031 (fax)
Mon: 08:30am - 05:30pm
Tue: 08:30am - 05:30pm
Wed: 08:30am - 05:30pm
Thu: 08:30am - 05:30pm
Fri: 08:30am - 05:30pm