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General Types of Trust Funds

There are numerous types of trust funds, but the most common are revocable and irrevocable trusts. Below is a quick overview of each trust fund. A living trust, also known as a revocable trust, lets a grantor better control assets during the grantor’s lifetime. It is a type of trust in which a grantor places assets into a trust that can then transfer to any number of designated beneficiaries after the grantor's death. Most often it used to transfer assets to children or grand