A trust which cannot be changed or canceled once it is set up without the consent of the beneficiary. contributions cannot be taken out of the trust by the grantor. Irrevocable trusts offer tax advantages that revocable trusts don't, for example by enabling a person to give money and assets away even before he/she dies. opposite of revocable trust.
Related information about irrevocable trust:
- Irrevocable Trust Definition | Investopedia
A trust that can't be modified or terminated without the permission of the beneficiary. The grantor, having transferred assets into the trust, effectively removes all ...
- Revocable versus Irrevocable Trusts - For Dummies
After you place property into an irrevocable trust, you can't retrieve the property. For all intents and purposes, that property now belongs to the trust, not to you!
- Trust law - Wikipedia, the free encyclopedia
In contrast to a revocable trust, an irrevocable trust is one in which the terms of the trust cannot be amended or revised until the terms or purposes of the trust ...
- Medicaid Planning:: Irrevocable Trust for Asset Preservation
Medicaid benefits for long-term nursing home care may be obtained while preserving assets using an Irrevocable Trust.
- Revocable vs. Irrevocable Trusts - Wills & Estate Planning - About.com
An irrevocable trust is simply a type of trust that cannot be changed after the ... In other words, the person who transfers assets into an irrevocable trust is giving ...
- Irrevocable Trust
Latest news and information from Bay Financial Associates.
- Irrevocable Trust - Financial Dictionary - The Free Dictionary
A trust that is unable to be amended, altered, or revoked. Irrevocable Trust. A trust into which a grantor deposits assets for use by a beneficiary where the terms ...
- Revocable vs. Irrevocable Trusts
There are two major types of trusts – revocable and irrevocable trust. A revocable ... other hand, an irrevocable trust is one that cannot be changed. Benefits of a ...