A trust by definition is a stand alone instrument which is a legal entity. The details of the trust are devised by you in conjunction with consultation from accounting and legal professionals. State and federal laws must always be considered when doing any type of estate planning. Trusts have gained favor in recent years. An estate planning professional who knows your wishes along with accurate financial details of your estate can assist in determining if a revocable or irrevocable trust … [Read more...] about Revocable And Irrevocable trusts