If a trust agreement is established as irrevocable, it means that it can’t be revoked (broken) except under unusual circumstances. Why would anyone want an irrevocable trust?

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If a trust agreement is established as irrevocable, it means that it can’t be revoked (broken) except under unusual circumstances. Why would anyone want an irrevocable trust?

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Many times the reasons for an irrevocable trust involve estate and/or income tax avoidance. In order to be successful in such avoidance, the trustor must not have any direct or indirect power or control over the trust property or income. The regulations on this subject, set out by the Internal Revenue Code, must be carefully followed.

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