What does bypass trust mean?

bypass trust meaning in Law Dictionary

Trusts are utilized in the us as the best device to prevent gift income tax, also to minimize taxation of possessions upon loss of a married couple.

bypass trust meaning in Business Dictionary

kind of United States revocable trust established to lessen taxes on the property offered towards the kiddies upon moms and dads' demise. Inside arrangement, the parents can obtain earnings from trust, and will even draw regarding the key, in their life time.