The irrevocable trust today is nothing like the typical trust of only a few years ago. Then, most trusts included just a single trustee or possible co-trustees to fulfill all of the roles. Now, however, a trust is likely to divide the traditional trust function into many components and it may include other important positions.

Planners need to understand some of the functions that might be included in a modern trust. This will assure that their clients are really getting optimal planning, and that trust assets are being properly invested.

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