A trust that is unable to be amended, altered, or revoked.
trust which cannot be changed or canceled once it is set up without the consent of the beneficiary. opposite of revocable trust. see also bypass trust, revisionary trust.
A trust in which the grantor gives up any right to amendments or termination. Income from an irrevocable trust is taxable to the beneficiary if disbursed or to the trust if not disbursed.
A trust which cannot be canceled (revoked), but can be amended once it is set up.
A trust that cannot be changed or cancelled after it is made. If a living trust (called an inter vivos trust) is irrevocable, that means the person who owned the property in trust has no more rights to that property. Any trust that is made by a Will is irrevocable. See Testamentary Trust. Compare with Revocable Trust.
A trust that cannot be changed or canceled by the grantor. An irrevocable trust can be used for estate planning purposes.
agreement between you and a trusted person who acts as trustee to take care of your assets. The agreement cannot be changed.
An Irrevocable Trust is a trust where the terms of which cannot be changed or terminated.
A trust the terms and provisions of which ordinarily cannot be changed, modified, altered, amended, or revoked. Under certain circumstances, a court may make limited changes.
A trust that cannot be changed or terminated by the person creating it.
A trust which has terms and provisions that cannot be changed.
A trust in which the grantor relinquishes title to the property placed in it as well as the right to revoke or terminate it.
an arrangement in which the grantor departs with ownership and control of property
a trust arrangement that cannot be changed or canceled by the individual who created it
a trust created, generally speaking, during the lifetime of an individual that cannot be changed, modified or terminated by that individual
a trust in which the grantor has irrevocably transferred his or her assets into the Trust and no longer has access to the assets placed in such a Trust
a trust in which the grantor transfers the property to the trustee but does not have the right to cancel the agreement
a trust in which you have not retained the right to amend or revoke
a trust that cannot be amended by the trustor
a trust that, generally, cannot be changed once it's executed
a trust where the grantor completely gives up all rights in the property transferred to the trust
a trust where the property contributed to the trust can not be withdrawn
a trust, which, by its terms, cannot be modified, amended, or revoked
a trust which cannot, in any way, be revoked by the grantor
A trust that cannot be changed or terminated after it is established.
a trust that once created cannot be terminated without the consent of the beneficiary
A trust which cannot be changed or undone.
Trust that cannot be changed or terminated by the one who created it without the agreement of the beneficiary.
A trust created for the permanent transfer of property.
An irrevocable trust can be written in a variety of ways and is used in estate planning to separate assets from the original estate.
A trust that the trustor does not have the power to revoke or amend.
A trust that cannot be altered by the creator.
trust that is not amendable or revocable by the grantor. Can be created during a grantor's lifetime, often called an " inter vivos" trust, or upon a grantor's death, often called a "testamentary" trust. Some common types of irrevocable inter vivos trusts include life insurance trusts, gift trusts, generation skipping trusts, qualified personal residence trusts ("QPRT"), grantor retained annuity trusts ("GRAT"), intentionally defective grantor trusts, charitable remainder annuity trusts and charitable remainder unitrust trusts (" CRAT") and " CRUT"), charitable lead annuity trusts and charitable lead unitrust trusts (" CLAT" and " CLUT"). Some common types of testamentary trusts include, unified credit exemption trusts, marital trusts, generation skipping trusts, testamentary charitable remainder trusts and charitable lead trusts.
A trust that cannot be altered or terminated by its creator without the beneficiary's consent.
A trust, which, once executed, may not be revoked or changed.
A trust that cannot be changed or cancelled without the consent of the beneficiary.
A trust is irrevocable if the grantor cannot revoke or terminate it after it is created.
A trust which cannot be changed (modified) or canceled (revoked) once it is set up.
The grantor may choose not to retain certain rights and powers to ensure that the trust income is not taxable to the grantor, and that the property may be removed from the grantor's taxable estate. Transfers to irrevocable trusts will still be considered gifts of future interest, and so will not qualify for the annual gift tax exclusion unless special provisions are made.
A trust which by its terms (1) cannot be revoked by the grantor or (2) can be terminated by him only with the consent of someone who has an adverse interest in the trust. oint Tenancy: The holding of property by two or more persons in such a manner that upon the death of one joint owner, the survivor or survivors take the entire property. ast Will and Testament: A legal document in which a person makes a disposition of his real and personal property, to take effect after his death, and which is revocable by the person during his lifetime; the person creating the will is known as a testator.
A trust in which the trustor has not reserved the right to revoke and cannot change the wording in the trust.
A trust that cannot be changed, altered or revoked.
A trust that has terms and provisions which cannot be changed.
A trust that cannot be changed (revoked) or cancelled once it is set up. Opposite of revocable trust.
a trust over that you have no power to amend or revoke. Irrevocable trusts have the disadvantage that they require you not retain control, but they can provide significant tax benefits. The more common irrevocable trusts are "Irrevocable Life Insurance Trusts" and "Charitable Remainder Trusts." Compare to "Revocable Trust."
A trust that, once set up, the grantor may not revoke.
A permanent trust. Once the trust is created, it cannot be revoked, amended or changed in any way.
A trust which cannot be revoked, withdrawn or cancelled.
you do not retain the right to amend or revoke your trust. Irrevocable trusts require that you not retain control, but provide significant tax benefits. The more common irrevocable trusts are "Irrevocable Life Insurance Trusts" and "Charitable Remainder Trusts."
A trust that cannot be amended, modified, or terminated (except by the terms of the trust).
A trust which by its terms (1) cannot be revoked by the settlor or (2) can be terminated by him only with the consent of someone who has an adverse interest in the trust-that is, someone to whose interest it would be for the trust not to be terminated, such as a beneficiary; to be distinguished from a revocable trust with consent or approval.
A trust that, once having been created by the grantor, cannot be revoked by the grantor.
A trust that cannot be revoked or amended by the party who establishes it. This type of trust is often established when life insurance is purchased to protect an estate.
A trust that may not be modified or terminated by the trustor after its creation.
(ear REV o cuh b'l) Trust that, once set up, grantor may not revoke.
A trust that cannot be terminated by the donor (grantor). If funded with income-producing property, it can offer both estate tax and income tax savings to the donor.
Once established and funded, the trustor can no longer revoke the Trust and remove the assets. The assets are managed by the trustee and benefits will be enjoyed by the beneficiaries designated by the terms of the trust.
A trust which the grantor cannot terminate.
a trust that can no longer be amended or revoked by anyone. Most revocable trusts become irrevocable at some time, for example, when the person who established the trust dies.
A trust arrangement that cannot be revoked by the creator.
A trust that cannot be revoked, modified or amended once it has been established. Irrevocable trusts are often used in tax planning to get property "out" of a person's estate so that it will not be subject to estate tax upon his or her death.
A trust that cannot be amended or revoked by its grantor(s). Like corporations, these are separate tax entities. Irrevocable trusts are often used in estate planning to place assets outside of someone's estate. One of the most common types of irrevocable trust is the irrevocable life-insurance trust (ILIT), which is intended primarily to prevent insurance death benefits from being included in your taxable estate.
Legal document that allows you to avoid probate and reduce the tax bite. You give up ownership of any asset you placed in this type of trust, and it can't be changed.
A type of trust that cannot be revoked or changed in any way.
A trust that, once executed, cannot be revoked or changed without the consent of the beneficiary.
A Trust that cannot be changed, once established, except by court action in a proceeding often referred to as REFORMATION.
a trust agreement that cannot be changed or canceled.
A type of trust in which the grantor gives up rights to amend or terminate the trust.
trust that cannot be altered, amended or revoked. In limited circumstances, a court may have power to alter such a trust.
a trust that cannot be revoked, cancelled, rescinded or made void by anyone
Opposite of revocable trust; a trust that cannot be changed or cancelled (revoked) once it is set up.
When the person creating a trust transfers ownership of the trust proceeds to the trustee and does not maintain an ability to cancel, alter, or abolish the trust.
A permanent trust. Once you create it, it cannot be revoked, amended or changed in any way.
A trust which cannot be revoke without the consent of all the beneficiaries.
The person who created the trust cannot revoke it.
A trust that, once its setup, cannot be changed at all.
A trust in which the creator does not reserve the right to reacquire the trust property.
A trust that cannot be altered, stopped, or canceled. During circumstances where the trustee cannot interpret or carry out their specific duties, the court is then asked to make legal determinations.
a trust agreement that is not subject to change or cancellation
