A possible advantage of setting up a trust is averting estate taxes. Assuming that the trust is irrevocable and you simply relinquish Charge of it, it could lessen estate tax liability. But revocable trusts remain part of the taxable estate. Trusts are divided into two primary categories: living trusts and https://trustedlegalpartners30517.wikijournalist.com/5808222/facts_about_legal_and_general_unit_trusts_revealed