Whenever I hear the term "Trust" I think of it on the individual level... The biggest trust (marital trust) I handled was $42M - Although paralegals have handled bigger trusts. "Trust" is such a general term... there are so many different types of trusts such as Living Trusts,Marital Trust (QTIP), Qualified Domestic Trust (QDOT), Credit Shelter Trust (Family Trust), Qualified Subchapter S Trust (QSST), Electing Small Business Trust (ESBT), Irrevocable Life Insurance Trust (ILIT)
Dynasty Trust, Grantor Trust, Simple Trust, Complex Trust, Foreign Trust
Real Estate Investment Trust (REIT), Charitable Remainder Trust (CRT) (Annuity or Uni) Charitable Lead Trust (CLT) etc etc
I'm not too familiar with types of trusts corporations (like Fortune 500 type corps?) handle...
Trusts are governed by the trust agreement and the state law. That's where the terms are outlined... As for software for estate planning/trust administration, try looking into CCH, Benchmark, Probate, FastTax but again most of these are used for the trusts individuals set up. Again, not sure about existing software for trusts that corporations handle....
Even after 10+ years of estate planning/tax paralegal work, there's still more for me to understand
