Answer:
The correct answer to the following question will be "Revocable living".
Step-by-step explanation:
Revocable living trust:
- A trust where the conditions have the potential to be revoked or changed in which the grantor under it is based. The sole responsible for distributing the earned income is grantor.
- It's a popular tool for financial planning that you could use when you die to decide who'll get your house.
- It provides for continuity of the management and earnings flow for a while after the death of the grantor and allows the resources to bypass power of attorney, but it doesn't provide any income or estate tax benefits.
Therefore, Revocable living is the right answer.