Comparing inter vivos and testamentary trusts

Description

Abstract: Creating and adhering to an estate plan is no simple task. Generally, the end goal of estate planning is to divide up and transfer assets to loved ones at a minimum or zero tax cost. Of course, a will is a good starting point, but it may be supplemented by various other estate planning techniques, including trusts. Trusts are essentially used to accommodate asset transfers beyond dispositions in a will. This article examines the two main trust types: the inter vivos trust and the testamentary trust.