A revocable trust (also known as a living trust) is a trust that can be managed and changed by its creator (or grantor). An irrevocable trust is a trust that cannot be modified after it is created ...

The decision whether to choose a revocable or irrevocable trust for the protection of assets can have lasting implications and profoundly impact a legacy, so it's not something to be taken lightly.

An irrevocable trust is a trust that cannot be modified after it is created without the beneficiaries' consent or court approval, and possibly both. A trust is a legal entity set up during a ...

Leonard’s wife, Kelly-Anne, has been receiving checks in an irrevocable trust for more than 20 years. When she was a teenager, her mother set up the trust, naming Kelly-Anne’s uncle as the ...

A Testamentary trust is set up in a will and established only after the person's death when the will goes into effect. Living trusts can be either "revocable" or "irrevocable." Revocable trusts ...

A trust must be set up as either revocable or irrevocable and have a grantor, at least one beneficiary, and a trustee. Depending on the type of trust fund, one or more of these parties may be ...

An irrevocable trust is created for a certain period in which assets are placed. An annuity is then paid out to the grantor each year. The beneficiary receives the assets and pays little or no ...