Definitions for "IRREVOCABLE TRUST"
An irrevocable trust is one that neither you nor your successor trustee can alter in any way.
When the settlor transfers title of the trust proceeds to the trustee and reserves no right to cancel, alter, or abolish the trust.
a trust that cannot be terminated or changed by the person creating it.
a completely different entity that files tax returns and will affect estate taxes
an excellent asset protection entity for "inherited wealth
an independent entity under the law
a necessity for exempt approval of a group pension scheme
an effective way to transfer taxable income to dependent family members who are in lower tax brackets
a method of making lifetime gifts to a beneficiary
a permanent arrangement that lacks flexibility
a written document where, by its own terms, it cannot be altered after it is established
Keywords:  expenses
IRS Expenses