An irrevocable trust, on the other hand, may be the better choice if your priority is reducing taxes and protecting assets.

In establishing and funding an irrevocable trust, a common question is who is responsible for the income tax liabilities associated with the trust? Many individuals assume that the trust is a separate ...

There are useful tools available to advisors and investors when it comes to estate planning. One of the tools that stands out is the irrevocable life insurance trust (ILIT). This is a form of ...

If you’ve heard of an irrevocable trust but don’t really understand them or what they are used for, you’re not alone. Most people have only heard one thing about these types of trusts: They’re set up ...

Trusts generally allow for the planned, controlled, and tax-efficient distribution of wealth to individual and charitable beneficiaries. As estate planners, we spend much of our time discussing the ...

Consider ease of set-up, ability to modify, asset protection, and tax benefits Greg DePersio has 13+ years of professional experience in sales and SEO and 3+ years as a writer and editor. Anthony ...

An irrevocable trust is one of the most indispensable estate planning tools. It can be used to access certain government benefits, minimize estate taxes, and protect assets within the trust.

A. Let’s go over how trusts work. A trust can be revocable or irrevocable. A revocable trust is a living trust that is established pursuant to a written agreement between the person creating the trust ...