Irrevocable Trust

 

Irrevocable Trust: A trust that cannot be terminated or revoked or otherwise modified or amended by the Grantor. As modern trust law continues to evolve, however, it may be possible to affect changes to irrevocable trusts through court actions, a process called decanting, which allows the assets of an existing irrevocable trust to be transferred to a new trust with different provisions, or through the use of a Trust Protector.

 

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