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Types of Trusts

A trust is an arrangement whereby a certain person takes responsibility of a deceased person’s property for the benefit of another person.  There are various types of trusts including charitable trusts, express and implied trusts, living trusts, medicaid income trusts, spendthrift trusts, testamentary trusts and totten trusts.  The rules covering types of trust vary in the different states of the United States.  The related law of each state is discussed under the following state links.

Inside Types of Trusts