New Jersey Lawyer Handling Credit Shelter Trusts

There are many types of trusts that may be used to protect your assets and property. A credit shelter trust can be used by married individuals looking to protect their assets and minimize the estate tax implications.

At the law office of Nicholas A. Giuditta, III, Attorney at Law in Westfield, New Jersey, we handle all aspects of estate planning, including the creation and maintenance of credit shelter trusts. We take the time to get to know our clients and assess their needs, to ensure the advice we provide meets the needs of their situations. Contact us today to further discuss the creation of a credit shelter trust or other type of trust.

If you are married and your combined estate is in excess of the New Jersey or federal estate tax exemption, then a credit shelter trust may be able to reduce the taxes that must be paid by your estate. By creating a credit shelter trust, each spouse can use their tax exemption to the fullest extent, instead of wasting this valuable tool and paying more in estate taxes when the surviving spouse in the relationship dies.

In most cases, a couple wants to leave their property to each other if one of them should pass away. Upon the death of the first spouse, all property left to the surviving spouse passes tax-free. However, this may leave the surviving spouse's estate at an amount that is over the federal estate tax exemption.

The beneficiaries of a credit shelter trust are normally the surviving spouse and his or her children. The surviving spouse retains the right to use the funds in the trust during his or her lifetime for health, education, maintenance and support. Upon the surviving spouse's death the assets in the trust pass to the couple's children free of any New Jersey or federal estate tax.

To learn more about if a credit shelter trust is right for you, contact us today and schedule your initial consultation. We are dedicated to providing professional service while maintaining the highest levels of compassion and professionalism. Call us today at (908) 232-0099.

Nicholas A. Giuditta, III, Attorney at Law
822 South Avenue West
Westfield, NJ 07090

Phone: (908) 232-0099
Fax: (908) 232-5955
Email

Map & Directions

Monday through Friday, 8:30 to 6:00

"A professional service delivered with compassion and
dedication to your needs."