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 one spouse dies, his or her estate includes the deceased spouseâs separate property and one-half of the community property. The credit shelter trust would be funded out of the deceased spouseâs estate. I live in a state where the exemption from state estate taxes is smaller than the federal exemption.