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 Chris Peterson

Chris Peterson is an attorney and the owner and founder of Peterson Law Group, a Texas law firm with offices in Bryan/College Station and Kingwood. He mainly practices in the areas of Estate Planning and Business Planning. Chris is also a Certified Estate Planner. Besides his law practice, Chris is a serial entrepreneur and community volunteer. He is known for his cutting edge law practice that utilizes technology to deliver efficient, excellent work.