Types, Features, and Taxation of Trusts

Free CFP Exam lesson in Estate Planning. 16 min read, ~2,444 words.

Bottom Line. Revocable trusts avoid probate but provide zero estate tax benefit, assets are fully included in the gross estate. Irrevocable trusts remove assets from the estate but require surrendering control. Grantor trust status (income tax) and estate inclusion (estate tax) are independent, an IDGT is irrevocable for estate tax...