Comparison of Trust Benefits Features* Will Testamentary trust Living trust Revocable Irrevocable Control distribution of assets Yes Yes Yes Yes Appoint guardian for minor-age children Yes Yes No No Avoid probate No No Yes Yes Avoid estate taxes No No No Yes** Defer/reduce capital gains tax and/or income taxes No Yes** No Yes** Protect assets from lawsuits and creditors No Yes** No Yes** *Applies only to assets included in a will or a trust. **Depends on structure and situation.
RkJQdWJsaXNoZXIy MTEyOTYzNw==