Gladys wants to set up a trust that is also known as a bypass trust, family trust, "residuary" trust, A/B trust, and exemption equivalent trust. She should set up a(n)

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A Credit-shelter trust, also known as a bypass trust, family trust, "residuary" trust, A/B trust, and exemption equivalent trust, is designed to help individuals pass assets to beneficiaries (often their children) while minimizing estate taxes by taking full advantage of the federal estate tax exemption.

Gladys Wants to Set Up a Trust That Is Also