Irrevocable Trusts

New Laws Make it Easier to Change Irrevocable Trusts

An irrevocable trust is a trust that, by its terms, can’t be changed except by terms that might be written into the irrevocable trust. However, there are times when a trust grantor wants or needs to make changes to an irrevocable trust. Fortunately, according to an article on FinancialPlanning.com, many states have been updating their…

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Definition of Irrevocable Trust

An irrevocable trust cannot be changed. It is a trust that, by its terms, can’t be changed except by terms that might be written into the irrevocable trust. It must operate according to whatever are its terms. An irrevocable trust is typically set in a particular jurisdiction: It is considered an independent person under the tax…

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What Is A Family Trust?

Illustration by Mathieu CHAINE courtesy of Wikipedia under the Creative Commons Attribution-Share Alike 3.0 Unported license.

A family trust is usually intended to either honor and/or provide for family. Nearly every kind of trust that does not have a charity and non-family members as beneficiaries is considered a "family trust" of some kind. A family trust anticipates a connection with others that is usually blood-based. But when one drills down more…

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