Revocable vs Irrevocable Trusts

Описание: Revocable vs Irrevocable Trusts

Revocable Trusts (also known as “Living Trusts”)
Definition: A revocable trust is a legal arrangement that allows the grantor to modify, amend, or revoke the trust at any time during their lifetime, provided they remain mentally competent. The grantor typically maintains full control over the assets placed in the trust.

Irrevocable Trusts
Definition: An irrevocable trust is a trust that, once established, generally cannot be changed, amended, or terminated by the grantor without the consent of the beneficiaries or a court order—both of which can be difficult to obtain. The grantor relinquishes ownership and control of any assets transferred into the trust.

TIMESTAMPS:
0:00 intro
0:35 Revocable vs irrevocable trusts
1:36 Trust value growth tax savings
4:33 outro

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