Determining whether to include an irrevocable trust in your estate plan involves evaluating your goals, financial situation, and long-term … [Read more...] about Is an Irrevocable Trust the Right Choice?

Upon the death of the Grantor, the irrevocable trust continues to function according to its terms. The Trustee assumes the responsibility of … [Read more...] about What Happens After the Grantor Passes Away?

Placing a personal residence into an irrevocable trust is a common planning technique. This strategy can protect the home from being counted … [Read more...] about Can I Transfer a Residence to an Irrevocable Trust?

Irrevocable trusts are frequently utilized in Medicaid planning. When structured properly and established well in advance of applying for … [Read more...] about Does an Irrevocable Trust Have a Role in Medicaid Planning?

In certain types of irrevocable trusts, the Grantor may be permitted to receive benefits, such as income or limited access to principal. … [Read more...] about Can the Grantor Also Be a Beneficiary?

The person or entity responsible for overseeing the administration of the trust is known as the Trustee. The Trustee holds legal title to … [Read more...] about Who Manages the Trust?

Irrevocable trusts are generally considered separate tax entities. The income earned by trust assets may be taxed to the trust itself or … [Read more...] about What Are the Tax Considerations of Establishing an Irrevocable Trust?

The very feature that makes these trusts attractive, the inability to alter their terms, can also be a limitation. Once an irrevocable trust … [Read more...] about What Are Some Limitations of Irrevocable Trusts?