Question: What are the fundamental differences between a living and a testamentary trust? Categorize the following as living or testamentary and briefly describe each: irrevocable trust,

What are the fundamental differences between a living and a testamentary trust? Categorize the following as living or testamentary and briefly describe each: irrevocable trust, qualified terminable interest property trust (Q-TIP), revocable trust, and sprinkling trust.

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