This is Karen's classic article discussing the Living Trust, Bypass Trust, Marital Trust, and GST Trust. It also touches on various gifting strategies and the benefits of Life Insurance Trusts and Family Limited Partnerships. Special attention is given to estate tax issues.
I have updated the article to include the current estate tax exemption ($11.58 million per person as of 2020). With the exemption at an all-time high, estate taxes are less of a concern for most people these days, but much of this material is still relevant.
Download the article in PDF form below.