An irrevocable trust is a trust in which the terms cannot be amended or changed until the terms or purposes of the trust have been completed. In rare cases, a court may change the terms of the trust due to unexpected changes in circumstances that make the trust uneconomical or unwieldy to administer, under normal circumstances an irrevocable trust may not be changed by the trustee or the beneficiaries of the trust.
Contrast with a revocable trust.
from Protecting You And Your Family http://ift.tt/29GEvzA
from DeWitt Law Firm, PLLC
No comments:
Post a Comment