Question: Morris didn't understand why he should set up a bypass trust. He said that without a trust, upon his death the $6,000,000 in assets in

Morris didn't understand why he should set up a bypass trust. He said that without a trust, upon his death the $6,000,000 in assets in his name could go to his wife free of estate tax. Why should he put restrictions on his wife by transferring the money to the trust with his wife as income beneficiary and his son as remainder person? (His wife also had $6,000,000 in assets in her name) Did he have a full perspective? Explain.

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It is true that under the rule that unlimited sums can be transferred to a spouse the spouse w... View full answer

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