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- Jan 13, 2011
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Scenario...
When one spouse dies, looking at funding a Credit Shelter Trust with proceeds from several annuities by changing the beneficiary from the spouse to the CST. Half of proceeds would go to spouse..the other half would go into the CST. What is the income tax consideration when first spouse passes away and that money goes into the trust???
Any help is appreciated!
JJ
When one spouse dies, looking at funding a Credit Shelter Trust with proceeds from several annuities by changing the beneficiary from the spouse to the CST. Half of proceeds would go to spouse..the other half would go into the CST. What is the income tax consideration when first spouse passes away and that money goes into the trust???
Any help is appreciated!
JJ