A Possible good thing about setting up a trust is avoiding estate taxes. As long as the trust is irrevocable so you relinquish Charge of it, it might reduce estate tax legal responsibility. But revocable trusts are still Component of the taxable estate. This is where designating beneficiaries is available https://online-trust-and-will-pla04912.answerblogs.com/40756452/examine-this-report-on-personal-legal-plans-inc