Can a Living Trust Be Irrevocable? Here’s What You Need to Know
May people ask us “Can a living trust can be irrevocable?” The answer is yes. And in this post we will explain what an irrevocable living trust is and the pros and cons of creating one. What are different types of living trusts? There are two main types of living trusts: revocable and irrevocable. What […]
When a Revocable Trust Becomes Irrevocable
A revocable trust is a popular estate planning tool that allows individuals to manage their assets while they are alive, and distribute them after their death. However, it’s important to understand when a revocable trust becomes irrevocable, as this status can have significant implications for you and your beneficiaries. In this guide, we’ll explore the […]
4 Ways to Revoke or Amend an Asset Protection Trust
Are you wondering is an asset protection trust revocable? Asset Protection Trusts are normally “irrevocable” meaning that people cannot just assign them away like other assets. However, there are four ways to revoke or amend an Asset Protection Trust if you desire. A Trust Protector May Be Able to Modify or Revoke the Trust. One […]
What Is the Name of a Trust? What Names Can You Use For Your Trust?
If you have a trust, the name of trust is probably stated in the trust document. If you are thinking of getting a trust, you can get creative. Here are some common answers to how you refer to your trust. If you already have a trust, here’s how you refer to it. You can look […]
Funding A Trust
Funding a trust is crucial. If you don’t transfer assets to the trust, they may have to go through probate court when you die. Let Me Tell You A Story. Let me tell you a story. A senior attorney who mentored me years ago used to describe funding a trust this way. He would always […]
Arizona Living Trusts: How To Set One Up For Your Accounts, Investments, House and Business
An Arizona Living Trust is a legal document that a person creates during his or her lifetime. The owner retains control over how the money is spent. Why Do You Need An Arizona Living Trust? If you own real property, such as a house, you might need to set up a trust. This is because […]
