The Different Classes of Trusts in Estate Planning

The Different Classes of Trusts in Estate Planning -...

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Classes of Trust in Estate Planning 1 The Different Classes of Trusts in Estate Planning Colleen Setters Kaplan University Basic Wills, Trusts and Estates for Paralegals 07:16:14 Preston Mighdoll
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Classes of Trust in Estate Planning 2 The Different Classes of Trusts in Estate Planning A popular method for making sure that a client’s property will be maintained and used for a purpose consistent with the property owner’s wishes is done through the creation of a trust. A trust is an agreement between the creator, the grantor, and another, the grantee, where the grantee holds and manages money or other assets for the benefit of another, the beneficiary. There are a few different types of trusts, each are designed to accomplish specific goals while varying in their flexibility and the limits, or none, on the control it offers. There are also some common advantages all trusts will share which are to include; privacy, tax shelters, and the avoidance of probate. (Helewitz, 2008) Living Trusts
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This note was uploaded on 02/12/2011 for the course LAW pa211-01 taught by Professor Prestonmighdoll during the Spring '11 term at Kaplan University.

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The Different Classes of Trusts in Estate Planning -...

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