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What is meant by "family trust"?
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Found out that someone I know has created a "family trust", i.e., "Biden Family Trust". I am curious what is likely meant by family trust? What financial benefits does it provided and how it is it likley structured? Just asking for curiosity sake.
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Or in estate tax lingo, a trust created to take advantage of the unified credit. Or that's the term I use.
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Agree. I just know the term Family Trust to me signals bypass trust. Or B trust. But really trust names names are meaningless.