Whether your legal need is in the area of incorporations, corporate services, will, probates, or trusts, look no further than the law office of Robertson & Gable. Consumer Investigator Dale Cardwell, president of TRUSTDale.com, trusts the law office of Robertson & Gable to go the extra mile for you! Click HERE to receive your exclusive Robertson & Gable/TD Deal of15 Minutes of FREE Legal Advice!
|TRUSTDale Tip of the Day: *What kinds of trusts are there?|
There are two basic types of trusts: living trusts and testamentary trusts. A living trust or an "inter-vivos" trust is set up during the person's lifetime. A Testamentary trust is set up in a will and established only after the person's death when the will goes into effect.
Living trusts can be either "revocable" or "irrevocable."
Revocable trusts allow you to retain control of all the assets in the trust, and you are free to revoke or change the terms of the trust at any time.
With irrevocable trusts, the assets in it are no longer yours, and typically you can't make changes without the beneficiary's consent. But the appreciated assets in the trust aren't subject to estate taxes.