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The principles of a trust rely on the terms on which it had been built. In certain parts, it can be done for beneficiaries to become trustees. For example, in certain jurisdictions, the grantor can be quite a life span beneficiary along with a trustee concurrently.

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Credit shelter trust: Sometimes known as a bypass trust or family trust, this trust will allow someone to bequeath an quantity up to (but not about) the estate-tax exemption.

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