what is an abc trust
Estate planning attorneys love acronyms. Or maybe I should say WJLTâ¦ we just love them. AB, ABC, ABCD, Q-TIP, Q-DOT, GRAT, GRUT, CRUT, CRAT, ILIT, GRIT, FLiP, and I could go on and on. However, the ABC trust is a standard estate planning device and is really pretty simple. In the simplest terms an ABC trust is a trust that divides into 3 shares at the first spouseâs death. Can you guess what the shares are often called? Yes, âA Trust,â âB Trust,â and âC Trust.â Or sometimes âTrust A,â âTrust B,â and âTrust C.â Or sometimes âSurvivors Trust,â âBY-Pass Trustâ and âFamily Trust.â.