Irrevocable Trust - What Is It? How Does It Protect Assets?

TIP: Trustee not cooperating? Simply fire them and hire another trustee.

An irrevocable trust is an agreement allowing property to be held by one party for the benefit of another, stipulating that that it cannot be readily revoked, altered, or amended. It is commonly used for asset protection and estate planning. A trust is a legal tool that consists of a Settlor who has the trust created, a Trustee who manages the trust and one or more Beneficiaries who receive the benefits of the trust. You will also hear a Settlor also referred to as a Grantor or Trustor. Then next question we answer is about revocable vs. irrevocable trusts, and how they compare.

I have been in the asset protection business for since 1991, I believe we have over 65,000 clients, and have established literally thousands of trusts and companies for other law firms, accountants and members of the public.

Webull

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[senjiii]

thank you, im turning 30 and have set up an irrevocable trysr and youve answers many questions.... thank you for your service

[secretbandreappears]

business guy - use a limiter on your videos so that your audio levels are consistant from video to video

[hithere]

Really thanks for sharing.. I think everyone need to know this info.
Will share and a big thumbs up!

[paulhess]

Great information really explains the difference or the trust and which may be best for my particular needs.

[whatwhat]

Are irrevocable trusts only for when you get older? We are in our middle 50's and what to protect against Medicaid, lawsuits, and taxes. Have around 10 M. Also, we are in Florida, where do you practice?

[Seeking_Jennifers_Truths]

So my sister, who stole my inheritance, has increased my irrevocable trust $100 a month after asking for the money back. She can't do this right? Can I get in trouble for cashing the check (it included my current amount). She's up to something.

[juwannamassey]

So, if there are 2 beneficiaries and the policy is signed irrevocable, can one of the beneficiaries take the other off without the insured knowing?

[hvacstudent]

Irrevocable Common Law Trust entity is gifted, buys, or otherwise is conveyed an asset, in this case a car.

The car has an MCO (manufacturers certificate of Origination) it's original "legal title", the MCO is the instrument conveyed between the former owner (guarantor) and the Trust Administrator (trustee), for the benefit of another entity, say another trust for some amount of specie.

The Trust now has legal title. The certificate of beneficial interest is now created and it's given to the beneficiary entity, equitable title has been distributed and properly recorded.

This conveyance might have a UCC filing made and recorded noticing any other commercial defacto/dejure entities that claim of FULL title is held in the name of XYZ trust and subject to no superior claim, and subject to the bylaws of said trust, and no other.

My question about the above scenario is, does the preclusion of legal title or legal claim over said property act as the primary deterrent for a defacto admiralty probate court in seeking to administer control over, most notably, cestui que vie trust assets of diseased beneficiaries?

If not what is the motivation deterrent? As I understand the BAR and it's affiliates profit heavily during the "distribution and administration" of assets of the aforementioned "public trusts."