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Why would I consider an irrevocable trust when I could create a revocable living trust?

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Why would I consider an irrevocable trust when I could create a revocable living trust?

Question: Why would I consider an irrevocable trust when I could create a revocable living trust?

Answer: A revocable living trust allows the grantor to keep control of the property and that is the big advantage of the revocable living trust. Also the trust can be amended so if circumstances change in the future, that’s a great advantage to the revocable living trust has. However, for estate tax purposes in order to do some estate planning techniques we typically need to use an irrevocable trust in order to achieve the estate tax savings that you’re trying to have.


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