Irrevocable Trust

Irrevocable Trust - 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 Information

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Identification

Label (rdfs)
Irrevocable Trust
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Definition and Examples

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.
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Additional Information

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Deprecated
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