https://ttlc.intuit.com/community/taxes/discussion/legacy-trust/01/1566521#M558840 <P>What is the difference between a "Legacy Trust" and a "Living Trust". Are both treated the same as far as taxes are concerned?</P> Tue, 05 May 2020 03:24:33 GMT farside387 2020-05-05T03:24:33Z https://ttlc.intuit.com/community/taxes/discussion/legacy-trust/01/1566521#M558840 <P>What is the difference between a "Legacy Trust" and a "Living Trust". Are both treated the same as far as taxes are concerned?</P> Tue, 05 May 2020 03:24:33 GMT https://ttlc.intuit.com/community/taxes/discussion/legacy-trust/01/1566521#M558840 farside387 2020-05-05T03:24:33Z https://ttlc.intuit.com/community/taxes/discussion/re-legacy-trust/01/1566610#M558875 <P>these labels are tossed around all the time and don't mean anything. Living trusts are mostly revocable trusts that settlors set up for themselves while they are alive and they get the income and gains with remainder going to named beneficiaries in the trust. Legacy trusts can be anything but are intended to last a long time and that's why they're called dynasty trusts sometimes and they can be set up in a number of different ways either revocable or irrevocable. This isn't a tax question though.</P> Tue, 05 May 2020 03:58:09 GMT https://ttlc.intuit.com/community/taxes/discussion/re-legacy-trust/01/1566610#M558875 bobotax2020 2020-05-05T03:58:09Z