a person who entices or lures another person or thing, as into danger, a trap, or the like. 2. anything used as a lure. 3. a trained bird or other animal used to entice game into a trap or within gunshot. 4. an artificial bird, as a painted wooden duck, used for the same purpose.
A credit-shelter trust (also known as an A-B trust, a bypass trust, or an exemption equivalent trust) is a way for you to pass on your estate and to avoid estate taxes. Under a credit-shelter trust, your surviving heirs would not receive your property (which would then be subject to an estate tax).
When traditional credit shelter planning is used, itâs possible to make use of both spousesâ $5,120,000 GST exemptions, potentially sheltering $10,240,000 from a future generationâs estate tax. If portability is used, only one GST exemption is available.