The IRS and an Irrevocable Trust: What You Need to Know
If you’re finalizing estate plans, consider an irrevocable trust. Whether you’re familiar with the concept or not, irrevocable trusts are powerful financial tools. Irrevocable trusts provide asset protection that the creator cannot change or revoke. So, depending on a participant’s financial situation, the outcome of these accounts can be wildly beneficial. But, given how confusing [...]