Irrevocable Trust

Irrevocable Trust

by Richard C. Wilson & Family Offices Group Association Team

Family Office Definition: Irrevocable Trust

Irrevocable Trust definition:  A trust becomes irrevocable once the grantor is deceased. The terms of the trust cannot be altered, and the trustee must follow the trust document.  An irrevocable trust can also be established while the grantor is living to accomplish specific estate planning goals. Irrevocable trust assets are protected from creditors’ ability to place liens.

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