As its name implies, an irrevocable trust cannot be revoked by the person who establishes the trust. Typically, an irrevocable trust also cannot be changed by a trustee or beneficiary. The irrevocable ...
This article explores the strategic use of this election, highlighting its potential to optimize tax outcomes for both trusts and beneficiaries while cautioning against its pitfalls.
“Trust is the glue of life. It’s the most essential ingredient in effective communication. It's the foundational principle that holds all relationships.” - Stephen R. Covey (1932-2012) author of ...
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