How many witnesses should an irrevocable trust have?

Answer Generally, an irrevocable trust should have at least two witnesses who have reached the age of majority, and who are not beneficiaries of the trust. However, every state has its own rules, so it is... Read More »

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What is irrevocable trust?

An irrevocable trust is a legal method for owning property. An irrevocable trust, unlike a revocable trust, can only be terminated with the consent of the trustee and the beneficiaries.BasicsA trus... Read More »

LLC Vs. Irrevocable Trust?

In the area of estate planning, you can use a number of tools to help protect your assets and property. Some people put their assets into the ownership of a limited-liability company, or LLC, while... Read More »

Irrevocable Trust & Divorce?

An irrevocable trust shields assets from estate and gift taxes as well as seizure by a grantor's creditors and, it allows beneficiaries to avoid the time and costs involved in probating a will. A d... Read More »

How do I administer an irrevocable trust?

Follow The AgreementIn order to administer an irrevocable trust, you must follow the trust agreement, which separates the ownership of the named property from the original owner. As the administrat... Read More »