146: Trustee and Executor Responsibilities: Best Practices and Pitfalls Part 3

Absolute Trust Talk

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1+ y ago 6:16

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Navigating estate planning as a surviving spouse can be complex, especially when dealing with the intricacies of an A-B trust. In this episode of "Trustee and Executor Responsibilities: Best Practices and Pitfalls," Kirsten Howe and associate attorney Jessica Colbert focus on the A-B Trust—an estate planning tool that was once commonly used to minimize estate taxes but is often misunderstood today. They explain what an A-B Trust is, why it's important to address the trust split promptly after a spouse's passing, and the complications that can arise if it's delayed. Whether you're a trustee, executor, or simply looking to better understand how to protect your assets, this episode offers clear, practical advice to guide you through the process. Tune in to learn the essential do's and don'ts for surviving spouses handling an A-B trust.

Time-stamped Show Notes:

0:00 Introduction

1:11 Curious about how an A-B Trust works? Press play here for a straightforward explanation.

1:52 Did you know an A-B Trust might not be the best tool for avoiding estate taxes?

3:14 Ever heard of a "stale trust"? This is what happens when you wait too long to address your trust after a loved one passes.

4:14 If you have an A-B Trust, splitting it when your spouse passes is required—but there is a potential workaround. Learn more here.

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