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 »

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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 »

There are a few ways that someone can change an irrevocable trust; the easiest way is when the beneficiaries and the grantor of the trust agree to the changes. The grantor must be alive at the time of modification. This ... More »

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A revocable living trust is created through the grantor's signature on a living trust document and the transfer of all property into the name of the trust, according to Nolo. The grantor is the individual for whom the tr... More »

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According to the rules of a special needs trust, the grantor creates a document to put assets in the control of a trustee, who uses them to help the person with special needs, reports Nolo. The grantor then opens an acco... More »

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A living trust is a document that places a person's assets into a trust throughout his lifetime. The assets are given out to beneficiaries designated by the person who created the trust at the moment of his death. A livi... More »

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Ways to create a will that avoids probate include creating a revocable living trust, having pay-on-death accounts, having a joint ownership of property and giving property away while still alive, according to Nolo. It's ... More »

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