In an ILIT, the grantor or creator of the trust cannot change the terms or beneficiaries of the trust, just like any irrevocable trust. However, grantors may place one or more life insurance policies ...

What Beneficiaries Need to Know to Optimize Their Resources Trusts are commonly used wealth planning vehicles. Yet many ...

When a married parent creates an irrevocable trust for the benefit of his or her children, the married parent, as the creator or settlor of the trust, often provides for his or her spouse to have ...

When planning for the future, many people use trusts as a way to manage their assets, avoid probate, and protect their loved ones. But not all trusts are created equally. Determining which estate ...

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 trustee.

As its name implies, an irrevocable trust cannot be revoked by the person who establishes the trust. Typically, an irrevocable trust also cannot be changed by a trustee or beneficiary. The irrevocable ...

These days, it’s not unusual for a client to use a trust instead of a will for their estate planning. Trusts offer a range of benefits, including asset protection, privacy, and efficient distribution ...

Most trusts are revocable trusts. However, there are a few scenarios where an irrevocable trust is necessary. For example, some people choose an irrevocable trust when they have a large estate that ...

Often clients come into my office with three primary objectives: protect their assets, ensure sound quality of life, and provide for loved ones. There are several methods to address these concerns and ...

Generally, homeowners aren’t “stuck” with their current property just because it’s held in an irrevocable trust. The trust — ...