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What are the four major types of trusts?

The four main types are living, testamentary, revocable and irrevocable trusts. However, there are further subcategories with a range of terms and potential benefits. Here are some of the different types of trusts that are commonly used in estate planning.

What is the most common type of trust?

Between the two main types of trusts, revocable trusts are the most common. This is primarily due to the level of flexibility they provide. In a revocable trust, the trustor (or the person who created the trust) has the option to modify or cancel the trust at any time during their lifetime.

What are the different types of marital trusts?

There are three types of marital trusts: a general power of appointment, a qualified terminable interest property (QTIP) trust, and an estate trust. A martial trust protects the assets and benefits of a surviving spouse and children.

What are the 3 types of trust?

With that said, revocable trusts, irrevocable trusts, and asset protection trusts are among some of the most common types to consider.

What are the four major types of trusts?

The four main types are living, testamentary, revocable and irrevocable trusts. However, there are further subcategories with a range of terms and potential benefits. Here are some of the different types of trusts that are commonly used in estate planning.

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