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Are There Different Types of Trusts?

April 26, 2017different trusts types

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Are There Different Types of Trusts?

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Trusts can be created for varying purposes and so you may read about income only trusts, supplemental needs trusts, bypass trusts and even pet trusts, among others. All of these trusts, however, are variations of the lifetime trust. The variety of purposes of for which a trust can be utilized underscores the value of trusts as an estate and lifetime planning tool.