A possible benefit of setting up a trust is preventing estate taxes. Provided that the trust is irrevocable and you simply relinquish Charge of it, it might decrease estate tax legal responsibility. But revocable trusts remain Component of the taxable estate. By Christy Bieber, J.D. Information furnished on Forbes Advisor https://plans-trusts42952.wikilima.com/1860507/trusts_and_financial_planning_an_overview