Question: 1. What are the differences between the following kinds or classes of trusts: express versus implied, private versus public, active versus passive, inter vivos (living)

1. What are the differences between the following kinds or classes of trusts: express versus implied, private versus public, active versus passive, inter vivos (living) versus testamentary, and resulting versus constructive?

2. Why would a settlor create a revocable trust, and what are the advantages of making the trust irrevocable?

3. In trust law, what is the difference between legal and equitable title?

4. What is the difference between estate and inheritance taxes? Are they levied by both the state and federal governments?

5. Briefly explain the Uniform Transfers to Minors Act.

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