A Personal Trust conveys assets that produce passive income. Passive income includes but is not limited to: Rents/lease income, stocks, crypto, capital gains and interest. A Business Trust conveys assets that produce active income. Active income includes 1099 and K1 income.
Business Trusts are ideal for clients who have a business or multiple business interests and or businesses with partners. In fact, one Business Trust can accommodate an unlimited amount of businesses through creating separate divisions within the Business Trust.
A consultation is needed to ascertain which income the business falls under.