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Where to place trust assets?

Bogleheads • View forum - Personal Finance (Not Investing) - www.bogleheads.org
I am having trust documents generated by a lawyer, I am currently reviewing the draft copy. Assets of first spouse that dies (1/2 of community property plus separate property) goes into the Exemption Trust, and the surviving spouses's assets (1/2 of community property plus separate property) goes into the Survivors Trust. There is also a Disclaimer Trust, which may or may not be used.

Are there guidelines for what assets go in the Survivor's Trust, and what assets go in the Exemption Trust? Like house goes in Survivors Trust, financial assets go into Exemption Trust? Or higher appreciating assets on one trust or the other? Or does it matter (split everything, half in each)? Surviving spouse has a lot of flexibility in using income & principle (if needed) from Exemption Trust.

Is the disclaimer trust used if the surviving spouses's assets might approach the $5.34M federal limit of surviving spouse (not likely in my case)

Wording in trust document includes QTIP and DSUEA election (for those that know what it means). I am not clear how DSUEA election impacts stepped up cost basis at death of surviving spouse. We sign the trust documents in a couple weeks.
Date: Sep 5, 2014   


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