A trust in which you relinquish title and control of the assets when they are placed in the trust,which becomes a separate legal entity,is called a(n)

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An irrevocable living trust is a type of trust in which the grantor gives up all control and ownership of the assets placed in the trust. Once assets are placed in the trust, they no longer belong to the grantor and are managed according to the terms of the trust. This type of trust can be an effective estate planning tool for those who wish to minimize estate taxes and protect assets from creditors. Family trusts, revocable living trusts, and testamentary trusts do not necessarily require the grantor to relinquish all control and ownership of the assets placed in the trust.

A Trust in Which You Relinquish Title and Control of the Assets