A previous version of this short article didn't effectively distinguish concerning The prices of revocable and irrevocable trusts.
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The a single creating a trust is called the trustor or grantor. The one who oversees and manages the trust is called the trustee. In a very revocable trust, the trustor may possibly Handle the trust too, but within an irrevocable trust, the trustee must be any person else.
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Schooling trust: Beneficiaries can only use the money in the trust account for instructional bills.
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