Also known as an "A" trust, the marital trust provides management for assets passing to your spouse. The alternative is to leave assets for your spouse outright (no trust). A trust can add a level of comfort that someone is available to manage the assets. If no restrictions are placed on what happens to the assets after the second spouse dies, it's called a general power appointment. If you choose to control what happens after the second death, you need to establish a Qualified Terminable Interest Property trust or "QTIP" trust (a stricter form of marital trust).
sometimes referred to as "Trust A" in an "A-B Plan," it is a trust that is structured to hold assets for the benefit of a surviving spouse, and still qualify for the marital deduction. A Marital Trust pays all of its income to the surviving spouse. Additionally, the spouse may be entitled to certain amounts of principal upon request.
To control other assets you pass tax-free to your surviving spouse. See also “Q-TIP”.
A trust consisting of property for the benefit of the surviving spouse and qualifying for the marital deduction, also referred to as a QTIP Trust.
A trust that is established for the surviving spouse and qualifies for the marital estate-tax deduction.
Trust established to hold the surviving spouse's share of property upon the death of first spouse to die (see "A-B Trust" above). This trust qualifies for the marital deduction (see above).