Irrevocable Trusts

We offer a permanent solution for very specific needs.

Used primarily for unique circumstances, an Irrevocable Trust can provide asset protection, tax benefits, or certain lifetime benefits to beneficiaries at the expense of your control over assets.

Learn More About Irrevocable Trust

What is a Irrevocable Trust?

An Irrevocable Trust is a legal arrangement in which the grantor, or person creating the Trust, relinquishes control and ownership of the assets placed in the Trust. Once established, the terms of the Trust generally cannot be altered or revoked without the beneficiaries’ consent.

What are key elements of an Irrevocable Trust?

Loss of control – Once an Irrevocable Trust is formed and funded, the grantor no longer owns the assets in the Trust.
Permanence – Once formed, an Irrevocable Trust may not be amended except with the express permission of all Trust beneficiaries.
Tax reporting – An Irrevocable Trust will have its own tax identification number (TIN) and require separate tax reporting on an annual basis.

Will an Irrevocable Trust help me?

For most clients, save for unique circumstances, there are better Estate Planning tools to meet their needs than an Irrevocable Trust. Here are some key reasons a client might want to reconsider an Irrevocable Trust:

Asset Protection – Because the grantor no longer owns the assets in the Trust, the Trust may shield them from certain creditors and legal claims. Therefore, these assets could be out of reach for the MediCal/Medicaid lookback period or protected from future litigation.
Tax Benefits – Irrevocable Trusts can be used strategically to minimize estate taxes, potentially conferring these benefits upon a grantor’s heirs.
Charitable Giving – Some Irrevocable Trusts, like charitable remainder Trusts, allow for the donation of assets to a charitable cause while providing income to beneficiaries during their lifetime.

27,000+

satisfied clients

50+

Convenient Locations

30+

years of practice experience

How can we help you?

Whether you’re a new or an existing client, our dedicated Client Services team is ready to assist you!

Please use the form to share more about your specific needs.