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 ...

a trust in which the terms can be changed at any time. An irrevocable trust describes a trust that cannot be modified after it is created without the beneficiaries' consent or court approval ...

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.

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 ...

One asset protection strategy is an irrevocable life insurance trust, or ILIT. Here's what to know about this financial product. "An irrevocable life insurance trust is a type of trust that is ...

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 ...

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.