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Bypass Trust (Marital Life Estate Trust)

The Downside Of A Bypass Trust

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Possible disadvantages of a Bypass Trust include:

  • Restrictions on the surviving spouse's use of the property.
  • Expense of legal or accounting help setting up the trust and keeping it going.
  • Recordkeeping. There must be a separate set of records for the trust.
  • Preparing trust tax returns. An annual income tax return has to be filed for the trust.
  • There may be a conflict between the needs of the surviving spouse and the beneficiaries who take the assets when the spouse dies.

Edited by:
Jerry Simon Chasen, Esq.
Chasen & Associates, P.A.
Miami, Florida

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