Does a revocable trust reduce estate taxes or income taxes?

Generally, no. A revocable trust is commonly used for estate planning, control, continuity, and probate planning for properly titled assets—snot as a standalone tax-reduction strategy. During the grantor's lifetime, trust income is often still reported under the grantor's Social Security number. Tax treatment can become more complex after death or if the trust structure changes, which is why legal and tax guidance matters.

Trusts are typically established with the help of a legal professional. Quorum does not provide legal or tax advice. We recommend consulting with your attorney or other professional to determine what's appropriate for your situation. You need to review a strategy for your own particular circumstances that takes into account the applicable laws in your state before making any decisions.

This material is intended for general, informational and educational, purposes only and is subject to change based on a person's circumstances or changes in the law. The accuracy, completeness or reliability of the information provided is not guaranteed.