Trusts

Attorneys and their clients will refer to living trusts, loving trusts, inter vivos trusts, revocable trusts, etc. These are all names for the same thing, a revocable trust.

There are only 2 types of trusts:

A client can change, amend, alter, revoke, dissolve or remove property from a revocable trust. As a result, revocable trusts are the primary type of trust used for estate planning purposes. Generally, a client cannot change, amend, alter, revoke, dissolve or remove property from an irrevocable trust. Therefore, irrevocable trusts are rarely used as a general estate planning tool because they are designed to accomplish very specific purposes. This booklet will address the use of revocable trusts.

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