An irrevocable trust cannot be modified or terminated without permission from the beneficiary. According to the Free Dictionary, transferring assets into an irrevocable trust effectively removes all of a person's rights ... More »

Form a land trust by owning land, designating an entity or person to hold the land, selecting someone to benefit from the land, and executing a trust agreement transferring the land into a trust, according to HowStuffWor... More » Business & Finance Real Estate

An irrevocable living trust is a trust set up during the lifetime of the grantor that cannot be changed once it is set up, reports Nolo. Irrevocable living trusts are commonly set up to reduce or eliminate taxes or prote... More » Business & Finance Financial Planning

The responsibilities of a trustee to a beneficiary include complying with the instructions in the trust document; keeping the trust assets separate from the trustee's personal assets and maintaining separate records; and... More »

A beneficiary of a trust can also serve as the trustee or executor. However, the setup allows for a potential conflict of interest, as the trustee is responsible for acting in an equal and unemotional manner towards each... More »

A spendthrift trust is a legal instrument that holds property for a beneficiary but contains clauses preventing that beneficiary from actually exercising control over the trust property, explains BNY Mellon. The benefici... More »

The special needs trust form includes names and addresses of the grantor and trustee, the trust property, and name of the beneficiary, states US Legal. The form also establishes the powers of the trustee. More » Business & Finance Financial Planning