An irrevocable trust is a legal entity that cannot be altered, amended or revoked after its creation. Irrevocable trusts are typically established to protect assets from creditors, benefit the ...

An irrevocable trust, on the other hand, may be the better choice if your priority is reducing taxes and protecting assets.

The Internal Revenue Service issued a revenue ruling that aims to curb the abuse of stepped-up basis adjustments in irrevocable grantor trusts. Revenue Ruling 2023-02, issued Wednesday by the IRS ...

A trust can be a valuable way to protect your estate, but there are many considerations to make when choosing the right type ...

Estate planning is an integral part of financial planning for high-net-worth clients, and a critical component involves the use of trusts. The decision whether to choose a revocable or irrevocable ...

When it comes to estate planning, advisors and investors have a valuable tool in the revocable trust (or living trust) and irrevocable trust. Both types of trusts offer their share of benefits and ...

There are useful tools available to advisors and investors when it comes to estate planning. One of the tools that stands out is the irrevocable life insurance trust (ILIT). This is a form of ...

Additionally, irrevocable living trusts can have significant tax advantages. They can be used to reduce estate taxes, as the assets in the trust are no longer considered part of the grantor’s estate ...

A typical challenge encountered by estates of varying sizes and complexities is the lack of liquidity to cover the costs of estate administration. These expenses may satisfy just debts to creditors or ...