An Irrevocable Trust is a type of trust that, once created, generally cannot be altered, amended, or revoked. This kind of trust permanently transfers your assets into a trust, overseen by a trustee for the benefit of your designated beneficiaries. Due to its irreversible nature, it offers significant benefits like asset protection from creditors and reduced estate taxes. However, because of its complexity and permanent implications, it's crucial to set up an Irrevocable Trust under the guidance of an experienced estate planning professional.
It's important to note that Origin does not offer Irrevocable Trusts, only Revocable.
We recommend consulting with a qualified estate planning attorney who can provide personalized advice and ensure that this type of trust aligns with your long-term estate planning goals.
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