The decision whether to choose a revocable or irrevocable trust for the ... from a financial advisor: A revocable trust, also known as a living trust, is a flexible estate planning tool.

revocable and irrevocable. The revocable trust, or living trust, is an agreement between the client (commonly called the settlor, grantor or trustor in the document) and the trustee (usually also ...

A living trust is created as either revocable (changeable or able to be withdrawn) or irrevocable. Each type can be used in certain situations, which we detail below. A revocable living trust is a ...

but by giving up additional control over assets in an irrevocable trust, an irrevocable trust can be a much more powerful tool for asset protection and tax planning. In contrast, revocable trusts ...

"An irrevocable life insurance trust is a type ... financial advisor at Van Leeuwen & Company. It is a form of living trust that cannot be dissolved or revoked unless failure to pay premiums ...

Every trust has several parties involved: There are two kinds of living trusts: revocable and irrevocable. Let’s look at the key differences between the two. Read Next: Ramit Sethi: Track These ...

If you transfer your house or stock into a living trust, it is not considered a transfer for tax purposes. The other major type of trust is an irrevocable trust. That means you can’t take your ...

Among other gifts, the wife's mother settled and funded an irrevocable trust, of which the wife is the sole beneficiary. The irrevocable trust is governed by Michigan law, which the Massachusetts ...

as long as certain events haven't already occurred to make it irrevocable -- usually the death of incapacity of the person who created the trust. What are the benefits of a living trust?