Made use of to offer income for your surviving husband or wife. On the wife or husband’s Loss of life, the assets then drop by added beneficiaries named from the deceased. Often Employed in next relationship conditions, in addition to To optimize estate and era-skipping tax or estate tax planning flexibility The best form of trust is dependent

A possible advantage of setting up a trust is averting estate taxes. So long as the trust is irrevocable and you relinquish Charge of it, it may well reduce estate tax legal responsibility. But revocable trusts remain Element of the taxable estate. By Christy Bieber, J.D. Information offered on Forbes Advisor is for educational needs only. Your