It is an irrevocable trust involving the use of life insurance, which will generally be excludable from the donor's estate.
Another way to minimize your estate taxes is to transfer your assets into an irrevocable trust.
In a sense, there is a way to "revoke" an irrevocable trust: use term insurance rather than whole life.
Life insurance, for example, can be removed from an estate by transferring ownership to an irrevocable trust.
She signed an irrevocable trust, allowing the bank to manage her funds, from which she received a regular check.
In an irrevocable trust, there has developed a growing use of a so-called trust protector.
The Code permits the use of such third parties to amend or alter even an irrevocable trust.
The initial gift of $250 or more is put into an irrevocable trust for any period of 10 years or longer.
"An irrevocable trust for her education, so she doesn't have to run onto any more racetracks."
A 2503(c) trust is an irrevocable trust created for a child that continues beyond age 21.
