Are there taxes on a living trust?

Answer Living trusts are taxed. Revocable living trusts are considered part of a person's income. The creator of the trust, as well as the trustee and co-trustee, must report the income the trust earns ... Read More »

Top Q&A For: Are there taxes on a living trust

Are There Any Advantages to Placing Annuities in a Living Trust?

There are no advantages to placing annuities into a living trust. Most people use the living trust to avoid probate. If you have a named beneficiary on your annuity, it already bypasses probate and... Read More »

How to Amend a Living Trust or Change a Living Trust?

A living trust protects your assets and settles the question of who will be receiving what part of your assets after you die. Putting assets in trust can also have some tax benefits. A living, or r... Read More »

Does a beneficiary of a living trust have the right to see the trust?

A beneficiary's right to examine a revocable living trust does not exist until the trustor---the person who made the trust---dies. The beneficiary then has the right to request a copy of the trust ... Read More »

Is a living trust a testamentary trust?

A living trust is not a testamentary trust. A living trust--also known as an "inter vivos trust"--takes effect in the maker's lifetime. In contrast, a testamentary will go into effect only after th... Read More »