A potential advantage of setting up a trust is preventing estate taxes. So long as the trust is irrevocable therefore you relinquish control of it, it could cut down estate tax legal responsibility. But revocable trusts are still part of the taxable estate. By Christy Bieber, J.D. Information furnished on https://legal-plans-for-individua99764.wikihearsay.com/3988828/the_best_side_of_trust_law_partners_llp