Trusts Attorney in San Mateo, California

What is an irrevocable trust?

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So an irrevocable trust, there are many different types of irrevocable trusts, but they’re predominantly used in estate planning for generally higher net worth clients, where we are trying to save in estate taxes or gift taxes, but they are what they say they are, they’re irrevocable. So the client has to be willing to potentially part with these assets to ascribe a benefit to children and other beneficiaries, but there are many different types that we use in practice.

California estate planing and administration attorney, Laurence Dugoni, defines irrevocable trust.

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