Getting to know trusts

Description

Abstract: Setting up trusts is one way an owner can provide income for the rest of his or her life and provide for beneficiaries after death. Different types of trusts provide different benefits, so it’s important to select the right trust or trusts for one’s particular situation. This article offers an explanation of revocable and irrevocable trusts, along with the role that charitable lead trusts and charitable remainder trusts can play in an estate plan.