Trusts can provide protection for your beneficiaries, help reduce taxes, and allow for your assets to be distributed according to your wishes. However, not all trusts are created equal, and choosing the right one for your estate plan requires careful consideration. In this article, we’ll explore 5 different types of trusts that we commonly draft in our office, as well as their advantages and limitations.
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testamentary trust
Jennifer Short, JD
Testamentary Trusts and Wills
A testamentary trust is created through the decedent's will and comes into existence at death. Assets must still pass through probate before the trust is funded and money is given to beneficiaries.