Joint Spousal Trust

Joint Spousal Trust

Joint Spousal Trust means:
a trust created jointly by a husband and wife to which appreciated property is transferred and in which each spouse has a general power of appointment over the property so that the property is included in the gross estate of the first to die. The purpose of this technique is to provide a step up in basis for the appreciated property on the death of the first spouse.

See Inheritance Tax and Inheritance Tax.


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