Irrevocable Trusts Explained: How They Work, Types, and Uses
Irrevocable Trusts Explained: How They Work, Types, and Uses
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Considering a Trust…know the differences. A revocable trust allows the grantor (the person creating the trust) to change or terminate the trust at any time during their lifetime, while an irrevocable trust cannot be easily modified once established, meaning the grantor loses control over the assets transferred to the trust; essentially, a revocable trust offers flexibility while an irrevocable trust is “locked in” with limited ability to make changes. #livingtrust #revocabletrust #irrevocabletru
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