Should I Use a Revocable or Irrevocable Trust?

When you think about the financial decisions that you have made throughout your life, you recognize the fact that you have had many options. You weigh all of the factors when you make an important financial decision, and you go forward in a fully informed manner. This type of logic should apply to estate planning as well. Each family is different, and everyone is in a different financial situation. There are many different approaches that can be taken, and you should be fully apprised of all of your options. With this in mind, let s look at the distinctions between revocable trusts, and irrevocable trusts. Incidents of Ownership It doesn t take an estate planning expert to recognize the fact that you must be able to revoke or dissolve a revocable living trust. Indeed, if you have this type of trust, you have the power of revocation. You can dissolve the trust entirely, and you would be able to take back direct personal possession of assets that you conveyed into it. This arrangement c


Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s