Marital trust definition

Marital trust means a trust:
Sample 1Sample 2Sample 3
Marital trust means any trust created for the exclusive lifetime benefit of the spouse of a decedent or of the settlor of the trust if:
Sample 1Sample 2Sample 3
Marital trust as used in this instrument shall have the meaning set forth in paragraph 3.3.2,3.4.2 above.
Sample 1

Examples of Marital trust in a sentence

  • Because the trustee's authority is not "ascertainable," it tends to enjoy substantially greater creditor protection for the beneficiary, because there is no objective standard to which a creditor can attach its claim.Just like other trust assemblies in WealthDocs™, the Marital trust may (but need not) allow distributions of principal to the surviving spouse.

  • Because the value of the Marital trust is already included in the surviving spouse's gross estate, allowing distributions of principal from the Marital trust to the surviving spouse is estate tax neutral.

  • The surviving spouse will retain certain assets in a revocable trust (also known as a Marital trust, or “A” trust), and the remaining assets are usually retitled into a new irrevocable trust (also known as a Family trust, a Credit Shelter trust, or “B” trust).

  • Marital trust cannot be terminated to settle an estate dispute where widow does not join in petition to terminate the trust, regardless of her breach of terms of mediation settlement in which she agreed to do so.

  • In the study conducted by Robinson and Bennett (1995: 555) [76], it was stated that workplace deviation behaviors cause organizational losses ranging between 6-200 billion dollars per year.

  • If the beneficiary of any trust (including the surviving spouse as beneficiary of the Marital trust) has unfettered access to principal, the beneficiary is deemed to hold a general power of appointment under Section 2041 of the Internal Revenue Code.

  • In the case of a Marital trust, the distribution trustee might be someone the surviving spouse trusts and knows well, and the spouse may serve as trustee for all administrative purposes.

  • Clients who seek greater control over the ultimate disposition of the Marital trust assets after the death of the surviving spouse will tend to limit or prohibit distribution of principal from the trust.

  • If a grantor spouse is concerned about protecting the assets in the Marital trust from the subsequent remarriage of the surviving spouse, the grantor may include provisions that limit, suspend, or terminate principal distributions from the Marital trust if the spouse remarries.

  • Conley, deceased, also known as the Conley Marital trust, (“Tenant”) for approximately 20,716 net rentable square feet of parking space located beneath the N.


More Definitions of Marital trust

Marital trust means any trust created for a surviving spouse of a Descendant of Xxxxxxx Xxxxxxx and Xxxx Xxxxxxx, provided that during such surviving spouse’s lifetime, he or she is entitled only to the income of such trust and the principal of such trust remaining after any transfer taxes attributable to such trust by reason of the surviving spouse’s death is distributable upon the death of such surviving spouse to or for the benefit of any Family Member.
Sample 1

Related to Marital trust

  • Supplemental Trust Agreement means any trust agreement then in full force and effect which has been duly executed and delivered by the Authority and the Trustee amendatory hereof or supplemental hereto; but only if and to the extent that such Supplemental Trust Agreement is executed and delivered pursuant to the provisions hereof.

  • unit trust means any trust established for the purpose, or having the effect, of providing facilities for the participation by persons as beneficiaries under a trust, in profits or income arising from the acquisition, holding, management or disposal of securities or any other property.