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  2. Trust (law) - Wikipedia

    en.wikipedia.org/wiki/Trust_(law)

    The trustee may be either a person or a legal entity such as a company, but typically the trust itself is not a legal entity and any litigation involving the trust must include the trustee as a party. [21] A trustee has many rights and responsibilities which vary based on the jurisdiction and trust instrument.

  3. United States trust law - Wikipedia

    en.wikipedia.org/wiki/United_States_trust_law

    For Federal income tax purposes in the United States, there are several kinds of trusts: grantor trusts whose tax consequences flow directly to the settlor's Form 1040 (U.S. Individual Income Tax Return) and state return, simple trusts in which all the income created must be distributed to one or more beneficiaries and is therefore taxed to the ...

  4. Revocable trust vs. irrevocable trust: key differences - AOL

    www.aol.com/finance/revocable-trust-vs...

    However, a revocable trust can provide language to create sub-trusts upon the death of a grantor (e.g. credit shelter or other irrevocable trusts) that can preserve or reduce future estate tax ...

  5. Estates and Wills: Should You Set Up a Revocable or ... - AOL

    www.aol.com/estates-wills-set-revocable...

    Successor Trustee: A second person who can take over for the trustee if the trustee is incapable of fulfilling the duties or has died There are two kinds of living trusts: revocable and irrevocable.

  6. Trustee - Wikipedia

    en.wikipedia.org/wiki/Trustee

    Trustees [2] have certain duties (some of which are fiduciary). These include the duty to: Carry out the expressed terms of the trust instrument. [3] Trustees are bound to act in accordance with the terms of the trusts upon which the trustee holds trust property, and commit a breach of trust by departing from the terms of the trust. [4]

  7. Can I Change the Trustee on a Revocable Trust? - AOL

    www.aol.com/change-trustee-revocable-trust...

    Trustees play a vital role in the management and direction of revocable trusts. However, sometimes trustees need to be removed and replaced. While some trusts can be easily amended to change ...