A bypass trust, also known as a credit shelter trust or an exemption trust, is an irrevocable trust that allows parents to pass assets to their children while reducing or eliminating estate taxes.
A Charitable Remainder Trust is an irrevocable trust that pays income to one or more individuals until the grantor's death or for a specified number of years, after which the remaining assets pass to a designated charity.
An irrevocable trust is a type of trust that cannot be altered, amended, or terminated without the consent of the beneficiary or beneficiaries. It is typically set up to provide asset protection and tax benefits.
