Question

A trust that provides for management continuity and income flow even after the grantor's death and allows assets to bypass probate, but which provides no income or estate tax advantages is a(n) _____ trust.

Answer 1

Answer:

The correct answer to the following question will be "Revocable living".

Explanation:

Revocable living trust:

• A trust where the conditions have the potential to be revoked or changed in which the grantor under it is based. The sole responsible for distributing the earned income is grantor.
• It's a popular tool for financial planning that you could use when you die to decide who'll get your house.
• It provides for continuity of the management and earnings flow for a while after the death of the grantor and allows the resources to bypass power of attorney, but it doesn't provide any income or estate tax benefits.

Therefore, Revocable living is the right answer.

Answer 2

The answer is revocable living trust. This is a trust where the provisions has the capacity of being cancelled or to be altered in which are dependent on the grantor under it. The one responsible for distributing the income that are earned is the grantor.