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Trusts and Estates

Trusts and Estates

Trusts

Shmooge tried to remember everything he’d learned about trusts from his earlier studies.

“Let’s see…a trust is a type of account in which assets are held and managed for the eventual benefit of one or more beneficiaries.”

“Good, go on.” Bart was standing at the chalkboard again.

“The trust is established and initially funded by a grantor, who takes assets from his or her own account and places them in the trust. The rules for how the trust is set up, how the assets are ma...

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