FSP Article 2013 Jan
Welcome to 2013: Spousal Access Trusts Still Attractive for Business Owners
Spousal Access Trust refers to an irrevocable trust established by a married grantor for the benefit of the grantor’s spouse during the spouse’s lifetime, with the remainder interest passing to the couple’s children after the spouse dies. It is usually structured as a grantor trust for income tax purposes, with the value of the trust removed from the grantor’s estate for estate tax purposes, and from the surviving spouse’s estate at his or her subsequent death.