Get Tax Benefits, Protect Your Assets With An Irrevocable Trust

An Irrevocable Trust is a trust which, once set up, cannot be changed or canceled without first getting the permission of the beneficiary. The grantor may not withdraw contributions from the trust. There are certain tax advantages accruing when the trust is irrevocable. Using this type of trust a person is allowed to give away his or her assets or money even before death, which is not possible in the case of a revocable trust. Thus, an irrevocable trust is a trust that becomes permanent after being established and may not have changes made to it or be revoked once formed.

There arrangement must be set up per the grantor

March 3, 2008 | Filed Under Legal 
Print This Article : Print This Article :

Random Posts

Comments

Leave a Reply