Irrevocable Trust

Irrevocable Trust

 “Irrevocable Trusts” may not be altered, and therefore they provide much greater control and protection than a revocable trust. These types of trusts may be drafted: (a) to minimize tax liabilities by removing assets from a grantor’s name; (b) to allow the grantor who may be in need of sustainable supplemental income to qualify for governmental assistance; and (c) in some cases, to provide complete asset protection, depending upon the jurisdiction.  Even though they technically are not amendable, the law firm of ERIC H. LIGHT, P.A. is skilled at drafting such Trusts to allow the flexibility in transferring assets (“decanting”) to a new Irrevocable Trust when unforeseen circumstances arise and it is necessary to “change” the terms of the Trust.

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