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Home > Personal > Trust > Types of Trusts Types of TrustsEssentially, there are two types of Trusts:
A Living Trust is a combination of services used during your lifetime.
A Testamentary Trust takes effect at the time of your death. There are ways you can customize a Trust to meet your individual needs. The Living Trust can be a Revocable Trust that allows you to make changes during your lifetime, or you can make it an Irrevocable Trust so changes cannot be made. A Living Trust can continue after your death, if you make that choice when you set it up. This can offer your family continuous asset management and financial protection. You can create a Testamentary Trust within your Will that can provide you with significant flexibility, together with asset protection, for those who will benefit from your estate. Whether you’re looking to establish a Trust to reduce the tax burden to your estate or to remember your favorite charity, our experienced personnel will provide you with the information you need to get started. We will work with you and your attorney to make the Trust creation process as easy as possible. Our goal is to ensure that all of your questions are answered, and you are secure in knowing you have planned for the future. Not FDIC insured. No bank guarantee. May lose value. |
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