Legal Advice for Irrevocable trust — 28 results
Once you set up an irrevocable trust, you can't change the terms or provisions. This type of trust is useful for minimizing estate taxes and protecting assets.
Written by attorney Robin Daleo, about 3 years ago.
Question:My children are urging me to create an Irrevocable Trust to protect my assets.I am concerned that once I create the trust, I wont be able to access the money that I put in if the... more
Written by attorney Tariq Zafar, about 1 year ago.
Life Insurance Trusts may help save estate taxes for high net-worth individuals Payouts from life insurance are included in the estate for estate tax purposes Many of our clients are... more
Written by attorney Nicole Livingston, almost 3 years ago.
The Income Only Trust
By Nicole Livingston
How can you protect your assets if you need a nursing home?This is a question that I am often asked.There is a trust you can create called an... more
Written by attorney David Pastor, about 3 years ago.
A revocable trust is also known as a living trust because the trustmaker creates the trust and can make changes to the trust as necessary. An irrevocable trust on the other hand cannot be... more
Written by attorney Rebecca Berdugo, about 3 years ago.
Irrevocable v. Revocable Trusts
The difference between these types of trust is vast and can be used to accomplish your personal estate planning goal.A Revocable Trust allows a person to... more
Written by attorney Thomas Watson, over 4 years ago.
Let's set up a hypothetical. Married couple age 40. Two children ages 10 and 12. Total value of their combined estate is $2.5 million.
Equity in home = $200k
Qualified Retirement Plan (... more
Written by attorney Neel G Shah, over 1 year ago.
One tool for those looking to spend down their assets in order to apply for Medicaid benefits is the Irrevocable Funeral Trust (IFT). Through an IFT, a person can set aside funds to pay... more
Written by attorney Neel G Shah, almost 2 years ago.
Advantages Of An Irrevocable Life Insurance Trust
Many Americans may be unaware of what an irrevocable life insurance trust (ILIT) is, let alone the benefits it may provide to them.... more
Written by attorney Kevin J Tillson, over 4 years ago.
use of trusts in estate planning is a common way for individuals during their
lifetime to transfer assets to their children and grandchildren. Generally, a trust can be established for... more
Written by attorney Douglas L. Kaune, over 4 years ago.
When you are unable to obtain long-term care insurance, you should next consider the Medicaid Asset Protector Trust. Outright gifts to children are discouraged because those