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

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   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. United States trust law - Wikipedia

   en.wikipedia.org/wiki/United_States_trust_law

   This may even include situations where there may be a conflict in the grantor's direction and the actual terms of the trust. [15] In an irrevocable trust, there has developed a growing use of a so-called trust protector. This is generally an unaffiliated, third party (often a lawyer or an accountant) who is granted the power to amend or change ...

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

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   An irrevocable trust removes assets from your estate, which means your heirs won’t pay estate taxes on it. However, irrevocable trust assets may be taxed at a different rate. The trust may be ...

5. IRS Changes Could Rewrite Your Inheritance Strategy: What to Know

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   IRS Rule Change Should Have You Rethinking Your Irrevocable Trust appeared first on SmartReads CMS - SmartAsset. The rule, published at the end of March, changes how the step-up in basis applies ...

6. Trust (law) - Wikipedia

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

   [2] [3] A testamentary trust is an irrevocable trust established and funded pursuant to the terms of a deceased person's will. An inter vivos trust is a trust created during the settlor's life. The trustee is the legal owner of the assets held in trust on behalf of the trust and its beneficiaries. The beneficiaries are equitable owners of the ...

7. Spendthrift trust - Wikipedia

   en.wikipedia.org/wiki/Spendthrift_trust

   A spendthrift provision creates an irrevocable trust preventing creditors from attaching the interest of the beneficiary in the trust before that interest (cash or property) is actually distributed to him or her. Most well-drafted irrevocable trusts contain spendthrift provisions even though the beneficiaries are not known to be spendthrifts.