There are two basic types of trusts: living trusts and testamentary ... trust. Your surviving spouse will receive income from the trust, and the beneficiaries you specify (e.g., your children ...

This is particularly beneficial for minor children or individuals with special needs, as the trust can stipulate how and when funds are distributed. Additionally, testamentary trusts can offer tax ...

Each trust falls into six broad categories: living or testamentary ... to the spouse and then equally divided among the surviving children. However, children who are under the age of 18 need ...

We are trying to understand how a testamentary ... children. The 21-year deemed disposition rule you asked about is designed to prevent the long-term deferral of capital gains. Every 21 years, the ...