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A trust is an entity set up to maintain and distribute assets in accordance with the trust creator. There are specific laws on how a trust can be set up and run, what reporting and what taxes have to be paid. There are also laws about how long a trust can last.
A will is the method used to specify how one's assets will be distributed upon death. Often a will with create a trust. Wills also are subject to specific laws and taxes.
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What is the difference between an irrevocable trust and a living trust?
Provisions of a living trust remain valid as long as you stay alive, but the benefactors of your estate are not bound by these provisions once you have died. An irrevocable trust binds the benefactors of your estate to the trust's provisions.
What is the difference between a life estate and a life lease?
what is the difference between a life lease and a life estate
What is the difference between credit shelter trust and irrevocable trust?
What is the difference between credit shelter trust and irrevocable trust?
What is the difference between a living trust and an estate?
A living trust is set up for a specific purpose, with rules for what is to be done with the assets while the individual is living. They key to many is that it can also transfer the contents without going through probate. An estate is the property of a decedant that is going through probate.
What is the difference between trust and mistrust?
mistrust is you cant trust someone and trust is well you trust someone
What is the difference between trust and believe?
the Difference can be explained by an example.There is a belief among the employess that they have appraisal. Employees trust that there is a appraisal.
What is the difference between public and private real estate?
The difference between public and private real estate is that there are more perceived risks with public real estate versus private real estate. There are a few factors that fall into how one is perceived as more of a risk than the other.
What is the difference between a valid trust and enforceable contract?
a valid trust is true and an enforcebale trust can be enforced
Difference between complex trust with 100 exemption and 300 exemption?
There is one main difference between exemptions in a trust. According to the IRS, a 100 exemption on a trust is a simple and personal trust, a 300 exemption is a complex trust, usually for a charitable organization.
Can an estate be named as a beneficiary in a will or trust?
Yes, an estate can be named as a beneficiary in a will or trust.
What are difference between an estate agent and an auctioneer?
An estate agent is an agent who is in control or charge or the estate. The auctioneer is the one who is going to get the most money they can from the estate and property.
What is the difference between a trust and a cartel?
In trust we lose our independence. In cartel we retain the independence.....
