A potential advantage of setting up a trust is averting estate taxes. Assuming that the trust is irrevocable and also you relinquish control of it, it may decrease estate tax liability. But revocable trusts are still Component of the taxable estate. No, it’s not legally essential for a living trust https://bookmarkoffire.com/story20549003/5-easy-facts-about-will-and-trust-estate-planning-described