{"id":2800,"date":"2019-01-31T07:31:36","date_gmt":"2019-01-31T07:31:36","guid":{"rendered":"https:\/\/www.esperaiellolawgroup.com\/?p=2800"},"modified":"2025-11-03T15:57:02","modified_gmt":"2025-11-03T21:57:02","slug":"elder-law-change-update-the-trust-from-1997","status":"publish","type":"post","link":"https:\/\/www.aiellolawgroup.com\/news\/elder-law-change-update-the-trust-from-1997","title":{"rendered":"Elder Law: Change, Update the Trust from 1997"},"content":{"rendered":"<p><a href=\"https:\/\/www.aiellolawgroup.com\/wp-content\/uploads\/2019\/02\/elder-law-change-update-the-trust-from-1997.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-2845\" src=\"https:\/\/www.aiellolawgroup.com\/wp-content\/uploads\/2019\/02\/elder-law-change-update-the-trust-from-1997.jpg\" alt=\"Elder Law: Change, Update the Trust from 1997\" width=\"1000\" height=\"667\" srcset=\"https:\/\/www.aiellolawgroup.com\/wp-content\/uploads\/2019\/02\/elder-law-change-update-the-trust-from-1997.jpg 1000w, https:\/\/www.aiellolawgroup.com\/wp-content\/uploads\/2019\/02\/elder-law-change-update-the-trust-from-1997-300x200.jpg 300w, https:\/\/www.aiellolawgroup.com\/wp-content\/uploads\/2019\/02\/elder-law-change-update-the-trust-from-1997-768x512.jpg 768w\" sizes=\"auto, (max-width: 1000px) 100vw, 1000px\" \/><\/a><br \/>\nIf you have an A\/B trust and you\u2019re under the impression that when your significant other passes away you will automatically receive all of their assets, it may be time for you get in touch with an experienced <a href=\"https:\/\/www.aiellolawgroup.com\/practice-areas\/elder-law\">elder law attorney<\/a>, like ours at <a href=\"https:\/\/www.aiellolawgroup.com\">Aiello Law Group<\/a>, to change or <a href=\"https:\/\/www.aiellolawgroup.com\/elder-law-change-update-the-trust-from-1997.html\">update your trust<\/a>.<\/p>\n<p>The way an A\/B trust actually works is not what you might expect. A\/B trusts were originally designed in an effort to protect a deceased spouse\u2019s assets from hefty federal estate taxation. The way it works is that an A\/B trust will prevent the surviving spouse from inheriting everything by dividing the total assets up into different, smaller trusts. The \u201cSurvivor\u2019s Trust\u201d will contain all of the surviving spouse\u2019s personal\/separate property as well as half of their joint or \u201ccommunity property.\u201d Everything else is placed in a \u201cB trust,\u201d also known as a \u201cBypass Trust,\u201d \u201cCredit Shelter Trust,\u201d or \u201cExemption Trust.\u201d The surviving spouse will only ever actually \u201cown\u201d the A trust. Though they may receive some income earned by the other trust(s), the beneficiary cannot be changed which means the surviving spouse will never have full control of the assets. This, however, is great news for the beneficiary who inherits the B trust once the surviving spouse has passed, as they will be able to inherit the entire amount in full with zero tax liability. Of course, that was all back in 1997!<\/p>\n<p>If you want your spouse to be able to maintain total control over all assets after your passing, you will want to <a href=\"https:\/\/www.aiellolawgroup.com\/elder-law-change-update-the-trust-from-1997.html\">get started amending your trust<\/a> in full as soon as possible. The laws are different today than they were back then. As of 2018, as much as $11.2 million is now safe from federal estate taxation, and better yet, spouses can now claim their spouse\u2019s exemption as well, increasing that amount to $22.4 million. There really is no need to try and protect those assets with an A\/B trust. In fact, doing so may cause your spouse even greater frustration from having to answer to the trust\u2019s named beneficiaries.<\/p>\n<p>If you have any questions regarding your end-of-life planning, or you\u2019re simply hoping to find reputable <a href=\"https:\/\/www.aiellolawgroup.com\/practice-areas\/elder-law\">elder law attorneys<\/a> who can help you figure out exactly what kind of <a href=\"https:\/\/www.aiellolawgroup.com\/practice-areas\/estate-planning\">estate planning<\/a> best suits your unique circumstances, we hope you\u2019ll take this moment a reach out to our remarkable staff at <a href=\"https:\/\/www.aiellolawgroup.com\/\">Aiello Law Group<\/a>, today. We\u2019re certain our team has all the answers you\u2019re looking for! Call us, today, at <a href=\"tel:13139644900\">313.964.4900 <\/a>or fill out the form in the sidebar or on our <a href=\"https:\/\/www.aiellolawgroup.com\/contact\">contact page<\/a>, and learn more about how we can help you.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>If you have an A\/B trust and you\u2019re under the impression that when your significant other passes away you will automatically receive all of their assets, it may be time for you get in touch with an experienced elder law attorney, like ours at Aiello Law Group, to change or update your trust. The way [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":2845,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[6],"tags":[],"class_list":["post-2800","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Elder Law: Change, Update the Trust from 1997 - Social Security Disability Attorneys | Workers Compensation Attorneys | Elder Law Attorneys | Aiello Law Group<\/title>\n<meta name=\"description\" content=\"Elder Law: Change, Update the Trust from 1997. 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