This blog post is going to review common situations in which a revocable trust becomes irrevocable. There are more situations and ways that cause a revocable trust to become irrevocable, but this will just talk about the common situations. The common situations are death of the Grantor and incapacitation of the Grantor. A revocable trust …
Difference between an irrevocable trust and a revocable trust
I question I often get is what the difference between an irrevocable trust and a revocable trust, also called a living trust or inter vivos trust. Before we start talking about these trusts, there’s three basic definitions I want to get out there. There’s the person that creates the trust; the person that manages the …
Difference between an irrevocable trust and a revocable trustRead More