An agreement allowing parents to pass assets on to their children to reduce estate taxes. The trust must be made irrevocable, meaning that the terms can never be changed.
BYPASS TRUST
Meaning of BYPASS TRUST in English
UNODC Money-Laundering terms English dictionary. Английский словарь терминов управления ООН по отмыванию денег, преступности и наркотикам. 2012