Spousal by-pass trust definition

What does Spousal by-pass trust mean?

A trust of lump sum pension death benefits from a registered scheme under which the deceased member's widow or widower is a potential beneficiary.

The object of the trust is to make sure that the death benefits do not form part of the taxable estate of the widow or widower yet still give them possible access to those funds as a beneficiary to whom the trustees can appoint benefits or lend funds.

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