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2. Will Terminating an Irrevocable Trust Affect My Taxes? - AOL

   www.aol.com/terminating-irrevocable-trust-affect...

   An irrevocable trust is a legal entity that cannot be altered, amended or revoked after its creation. Irrevocable trusts are typically established to protect assets from creditors, benefit the ...

3. Estates and Wills: Should You Set Up a Revocable or ... - AOL

   www.aol.com/estates-wills-set-revocable...

   Irrevocable trusts cannot be changed easily by any party, including the grantor. You can’t cancel the trust or remove funds from it. You also can’t change the trustee, successor trustee, or ...

4. Revocable trust vs. irrevocable trust: key differences - AOL

   www.aol.com/finance/revocable-trust-vs...

   However, a revocable trust can provide language to create sub-trusts upon the death of a grantor (e.g. credit shelter or other irrevocable trusts) that can preserve or reduce future estate tax ...

5. Trust (law) - Wikipedia

   en.wikipedia.org/wiki/Trust_(law)

   In the United States, a trust is presumed to be irrevocable unless the instrument or will creating it states it is revocable, except in Pennsylvania, California, Oklahoma and Texas (and any other state that has adopted section 602 of the Uniform Trust Code), in which trusts are presumed to be revocable unless the instrument or will creating ...

6. United States trust law - Wikipedia

   en.wikipedia.org/wiki/United_States_trust_law

   For Federal income tax purposes in the United States, there are several kinds of trusts: grantor trusts whose tax consequences flow directly to the settlor's Form 1040 (U.S. Individual Income Tax Return) and state return, simple trusts in which all the income created must be distributed to one or more beneficiaries and is therefore taxed to the ...

7. Asset-protection trust - Wikipedia

   en.wikipedia.org/wiki/Asset-protection_trust

   Such trusts must be irrevocable (a revocable trust will not provide asset protection because and to the extent of the settlor's power to revoke). Most of them contain a spendthrift clause preventing a trust beneficiary from alienating his or her expected interest in favor of a creditor. The spendthrift clause has three general exceptions to the ...