Irrevocable trusts Tag

Revocable vs. Irrevocable Trusts: The Structural Distinction That Shapes Every Other Planning Decision

Most families of multi-generational wealth have revocable and irrevocable trusts somewhere in their estate plan. However, relatively few can explain why one structure includes assets in a grantor’s taxable estate while the other does not — or what that difference means for income tax, estate and gift tax, GST tax...