AB trust

{
  "id": "MLC-T-LAW-000257",
  "term": "AB trust",
  "field": "Law",
  "term_source": "AB Trust",
  "definition": "A trust structure used by married couples to minimize estate taxes by dividing assets into two separate trusts upon the death of the first spouse. The 'A' trust, or marital trust, is for the benefit of the surviving spouse, while the 'B' trust, or bypass trust, holds assets up to the estate tax exemption amount. The value of the B trust is not included in the surviving spouse's estate, distinguishing it from a simple marital deduction.",
  "url": "https://mlchart.com/terminology/law/ab-trust/"
}