FOLIO Ontology

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Identification

IRI:
https://folio.openlegalstandard.org/R9zlhNDQcVYtcL9SV06E9ts
Label Irrevocable Trust
Preferred Label N/A
Identifier N/A
Alternative Labels

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Definition

An Irrevocable Trust is a legal entity that, once established, cannot be altered, amended, or revoked by the grantor without the consent of the beneficiaries. Assets transferred into this trust are permanently removed from the grantor's estate, offering potential tax benefits and protection from creditors.

Class Relationships

Sub Class Of

Is Defined By

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See Also

None

Parent Class Of 0

  • • None

Class Hierarchy Visualization

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Additional Information

Metadata

Comment

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Description

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Notes

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Editorial Information

History Note

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Editorial Note

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Deprecated

No

Source and Origin

No source or origin information available