Types of Trusts
Trusts are fiduciary arrangements wherein a trustee holds and manages assets for the benefit of beneficiaries, according to the terms set by the trustor. There are various types of trusts, including revocable and irrevocable trusts, which can be altered or remain unchangeable after their creation, respectively, and testamentary and living trusts, which are established after death or during the trustor's lifetime. These legal entities can serve multiple purposes, such as asset protection, estate planning, and tax management.
Lesson Videos
Trusts Overview
Introduction to Trusts
Reasons for Establishing a Trust
Trusts vs. Estates
Types of Trusts
Simple Trusts
Complex Trusts
Grantor Trusts
Distributable Net Income
Trusts Summary
Trusts - Practice Questions
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