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• The requirements that a trust must meet to be qualified are as follows: The trust must be a valid trust under state law or would be except for the fact that there is no corpus. The trust must be irrevocable or will, by its terms, become irrevocable upon the death of the retirement account owner.

• trust noun (LEGAL ARRANGEMENT) ​. › [ C ] a legal arrangement in which a person or organization controls property and/or money for another person or organization: Under the terms of the trust he receives interest on the money, but he cannot get at the money itself.

• Even though a trust is a legal entity, if it is a revocable trust, the assets are still considered part of your estate. When you die, the assets in the trust will be added to the other assets in your estate to come up with the total estate value.

Creating a trust also enables the protection of the settlor’s estate and inheritance property. It is primarily established to protect property for the benefit of future generations, and therefore acts as a form of asset protection from creditors, as assets placed within the trust cannot be seized.

The requirements that a trust must meet to be qualified are as follows: The trust must be a valid trust under state law or would be except for the fact that there is no corpus. The trust must be irrevocable or will, by its terms, become irrevocable upon the death of the retirement account owner.

trust noun (LEGAL ARRANGEMENT) ​. › [ C ] a legal arrangement in which a person or organization controls property and/or money for another person or organization: Under the terms of the trust he receives interest on the money, but he cannot get at the money itself.

Even though a trust is a legal entity, if it is a revocable trust, the assets are still considered part of your estate. When you die, the assets in the trust will be added to the other assets in your estate to come up with the total estate value.