Will for Married Individual: Marital Trust and Clayton Provision (FL) | Practical Law

Will for Married Individual: Marital Trust and Clayton Provision (FL) | Practical Law

A will for a married individual in Florida that creates a marital qualified terminable interest property (QTIP) trust on the first spouse's death for the benefit of the surviving spouse, with the possibility of also establishing a credit shelter trust (family trust) by making a Clayton election. The trust structure in this Standard Document maximizes the use of the federal estate tax marital deduction on the first spouse's death and preserves the ability to make use of both spouses' applicable exclusion amounts if needed. This Standard Document has integrated notes with important explanations and drafting tips.

Will for Married Individual: Marital Trust and Clayton Provision (FL)

Practical Law Standard Document w-004-9251 (Approx. 116 pages)

Will for Married Individual: Marital Trust and Clayton Provision (FL)

by Practical Law Trusts & Estates
MaintainedFlorida
A will for a married individual in Florida that creates a marital qualified terminable interest property (QTIP) trust on the first spouse's death for the benefit of the surviving spouse, with the possibility of also establishing a credit shelter trust (family trust) by making a Clayton election. The trust structure in this Standard Document maximizes the use of the federal estate tax marital deduction on the first spouse's death and preserves the ability to make use of both spouses' applicable exclusion amounts if needed. This Standard Document has integrated notes with important explanations and drafting tips.