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Dwelling trusts might be revocable or irrevocable. Testamentary trusts are usually irrevocable when set up but can be revocable by way of a will Should the grantor remains alive.
Grantor retained annuity trust (GRAT): Permits the grantor to put specified property into A short lived trust account and freeze its worth, removing more appreciation through the estate and giving it to heirs with small estate or gift tax legal responsibility.
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