Trust Funds: Hometown Investments and Mutual Funds for Beginners

Trust funds can be quite versatile and serve various purposes depending on the needs and goals of the grantor. They can be set up during one's lifetime (living trusts) or established through a will upon death (testamentary trusts).

Trusts can be revocable, meaning the grantor retains control and can modify or revoke the trust during their lifetime, or irrevocable, where the terms are fixed and cannot be changed.