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The just one developing a trust is called the trustor or grantor. The one particular who oversees and manages the trust is called the trustee. In a revocable trust, the trustor may possibly Manage the trust as well, but in an irrevocable trust, the trustee need to be anyone else.
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Trusts may also be used for tax planning. In some instances, the tax consequences of applying trusts are trust bet reduced than other possibilities. For this reason, trusts have grown to be a staple in tax organizing for individuals and organizations.
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