Wednesday, May 21, 2014
Often, a bypass trust has many benefits, but sometimes a bypass trust is not the best plan and portability may be more beneficial, especially for married couples. Relying on portability may be better in the following situations:
- There will not be any minor or dependant beneficiaries
- The married couples combined assets are less than $10 million
- The couple resides in a state with no estate or inheritance tax
See Jonathan Kinney, A Contrarian View on Bypass Trusts, JD Supra, May 13, 2014.
Special thanks to Jim Hillhouse (Professional Legal Marketing (PLM, Inc.)) for bringing this article to my attention.