Trusts are categorized based on their purpose, structure, and legal framework. Here’s a list of various types of trusts we can assist our clients to setup:

1. Living Trusts (Inter Vivos Trusts)

• Revocable Living Trust: Allows the grantor to modify or revoke the trust during their lifetime.
• Irrevocable Living Trust: Once established, it cannot be altered without the beneficiary’s consent.

2. Testamentary Trusts

• Created through a will and activated after the grantor’s death.
• Designed to protect assets from creditors, lawsuits, claims and probate.

3. Revocable vs. Irrevocable Trusts

• Revocable Trusts: Can be changed or terminated during the grantor’s lifetime.
• Irrevocable Trusts: Typically permanent and provide asset protection and tax benefits.

4. Asset Protection Trusts

• Designed to protect assets from creditors, lawsuits, or claims.
• Examples: Domestic Asset Protection Trusts (DAPTs), Offshore Trusts.

5. Charitable Trusts

• Established to benefit a charitable organization or cause.
• Charitable Remainder Trust: Provides income to beneficiaries first, with remaining assets going to charity.
• Charitable Lead Trust: Provides income to a charity first, with remaining assets going to beneficiaries.

6. Special Needs Trusts

• Created to provide for a beneficiary with disabilities without affecting their eligibility for government assistance.

7. Spendthrift Trusts

• Restricts the beneficiary’s access to trust assets to protect them from creditors or poor financial management.

8. Grantor Trusts

• A trust where the grantor retains control and is taxed on the income generated by trust assets.

9. Family Trusts

• Established to hold and manage family assets, often for multiple generations.

10. Blind Trusts

• A trust where the beneficiaries or grantor have no knowledge of the holdings, often used to avoid conflicts of interest.

11. Land Trusts

• Holds real estate property for privacy and ease of management.

12. Insurance Trusts

• Irrevocable Life Insurance Trust (ILIT): Holds life insurance policies to avoid estate taxes.

13. QTIP Trusts (Qualified Terminable Interest Property)

• Provides income to a surviving spouse while preserving principal for other beneficiaries.

14. Dynasty Trusts

• Designed to pass wealth down through generations without incurring estate taxes.

15. Totten Trusts

• A bank account in trust for a beneficiary, often used for simplicity and convenience.

16. Foreign 98 Trusts

• This option is used to establish trust outside the U.S. Jurisdiction, but allows for business and assets to be held and protected inside the U.S.
• Additional tax, and subsidy benefits are enjoyed with filing a 1041.
• We offer offshore registrar and foreign situs address services in Belize, which includes a real address that you can send and receive mail to and from.  

17. Pet Trusts

• Ensures care for a pet after the owner’s death.

18. Pooled Trusts

• Combines assets from multiple individuals, often used for special needs beneficiaries.

19. Educational Trusts

• Established to fund a beneficiary’s educational expenses.

20. Business Trusts

• Used for managing and operating businesses or investments.

Each trust type serves a specific purpose, so it’s crucial to choose the right one based on your individual goals and circumstances.

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