Leonard’s wife, Kelly-Anne, has been receiving checks in an irrevocable trust for more than 20 years. When she was a teenager, her mother set up the trust, naming Kelly-Anne’s uncle as the trustee.

An irrevocable trust can't be changed or cancelled unless its beneficiary or a court allows it. The purpose of an irrevocable trust is to move assets from the grantor's control and name to that of ...

The decision whether to choose a revocable or irrevocable trust for the protection of assets can have lasting implications and profoundly impact a legacy, so it's not something to be taken lightly.

When deciding between a revocable vs. irrevocable trust, you should consider your net worth and what type of tax shelter your heirs may need. Although it may be tempting to set up a will and ...

See below for links to the other articles in the series. Almost 20 U.S. states now permit a person to set up an irrevocable trust that names themself as beneficiary even while the trust maker is ...