formula AB trust

Definition of "formula AB trust"
  1. A trust filled to its maximum limit with an amount equal to the personal federal estate tax exception for the year of a person's death
How to use "formula AB trust" in a sentence
  1. The husband's will stated that his assets should be placed in a formula AB trust upon his death.
  2. The lawyer established a formula AB trust to safeguard the client's assets from taxation.
  3. A formula AB trust was used to protect the assets from excessive estate taxes.
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