Estate Tax A/B Trust Question

Financial Planning - Financial planning in general. (Moderated) 

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Subject Author Date Estate Tax A/B Trust Question David 01-12-2007
Posted by David on January 12, 2007, 4:59 am If someone creates an A/B Revokable Living Trust, and a spouse eventually dies, is there any way that the first half of the estate (first $2,000,000 in tax year 2007 as an example) could go to the children instead of the surviving spouse while the surviving spouse keeps the 2nd half of the estate (or an amount over $2,000,000.00) until they die? Or must the first half and 2nd half both go to the surviving spouse and not go to any children where the surviving spouse would then have the "personal choice" as to use any of the income from the first half of the estate to help the children? I The main point here is that if the 2nd half of the estate is enough for the spouse to live on, is there any way to get the first half (currently the first $2,000,000 in 2007) to go directly to the children for their benefit? Or is there any way that the first 2,000,000 could be in a trust where the income that those assets produce could be specified to go to the children instead of the spouse directly? I greatly appreciate any help on this matter. Thanks, -David Similar Threads Posted Question About a 1031 Real Estate Transaction October 26, 2006, 5:03 am ABC Trust November 16, 2006, 4:58 am U.S. Trust Companies March 28, 2008, 7:22 pm Revocable Trust April 27, 2008, 12:45 pm Reverse Mortgage Note and Trust Deed December 5, 2007, 6:33 am Estate Attorneys October 5, 2006, 7:14 pm Distributing Estate September 10, 2007, 12:52 pm Real Estate September 2, 2007, 2:23 pm Re: Estate planning: Attorney or CPA? November 13, 2006, 4:58 pm small estate affidavit? November 17, 2006, 11:10 am