If a trust agreement is established as irrevocable, it means that it can be revoked (broken) except under unusual circumstances. Why would anyone want an irrevocable trust?
There are always specific reasons for making an irrevocable trust agreement. Perhaps it involves a family business where some of the family members are getting on in years and the family wants to make certain that management continues to run smoothly even if hindrances, such as senility, enter the picture.
Related Questions
- Why is it better to have an irrevocable life insurance trust purchase alife insurance policy on the donor, rather than have the heirs themselves own a permanent life insurance policy with the premium paid by the heirs with gifts by the now- living donor?
- 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?
- If a trust agreement is established as irrevocable, it means that it can be revoked (broken) except under unusual circumstances. Why would anyone want an irrevocable trust?
