What type of trust
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What Type of Trust?

Revocable Living Trust
aka Living Revocable Trust
aka Family Living Trust
(or a mixture of the words)
Avoid probate and
Keep assets in friendly hands
in case of incapacity
Minor's Trust Give assets to your children
Provide for education
Reduce income and estate tax
Preservation Trust Provide security for loved ones
Protect assets
Medical Trust Provide medical care for loved ones
and/or... long term convalescent care
Totten Trust Provide bank account for a minor
Education Trust Provide for education costs
Business Maintenance Trust Keep a business through generations
Custodial Trust Provide management for minors
handicapped, or seniors
Q-TIP Trust Provide lifetime income for surviving spouse
Direct assets to chosen heirs
Defer estate tax
Life Insurance Trust Reduce estate tax
Provide liquidity for heirs
Dynasty Trust Maintain family assets for generations
Legacy Trust Maintain family goals for generations
Charitable Remainder Trust Provide retirement income
Provide income for surviving spouse
Avoid capital gains tax
Transfer assets to charity
Credit shelter Trust Reduce and defer estate tax
Provide lifetime income for a
surviving spouse
Retained Interest Trust Reduce estate tax
Provide income during trust term
Personal Residence Trust Reduce estate tax
Provide use of house during lifetime
S corporation Trust Reduce estate tax
Facilitate transfer of a family business
Generation Skipping Trust Reduce estate tax
Keep assets in family for generations
Private Asset Trust
aka Asset Protection Trust
Privately safeguard personal wealth
and/or reduce estate tax

Special trusts

Many, many other types...

Keep in mind that many trusts combine benefits with many of the above categories.

 What type of trust, J Jay Lashlee