Irrevocable Trusts

Irrevocable Living Trusts:

Generally, living trusts can either be revocable or irrevocable. A "irrevocable" living trust does not permit the trustor to keep control of the trust's assets. The trustor gives up any right to "revoke" or alter the trust's terms and conditions. However, the trustor might be able to revoke or alter the trust if the beneficiary or beneficiaries consent. Typically, the trust's assets are not subject to estate (death) taxes.

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