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).
However, in New Jersey, since the state estate tax exemption is only $675,000, if the Credit Shelter Trust is funded with more than $675,000, this will cause some New Jersey Estate Tax to be paid. For example, if the $2 million is funded, the tax to the State of New Jersey is $99,600.