Special circumstances require creative ideas
The Irrevocable Trust is most often used to manage and protect assets for others or for particular estate tax planning purposes. In contrast to the Revocable Trust, the Irrevocable Trust cannot be changed or altered by you at any time, and generally you do not serve as Trustee. Because an Irrevocable Trust is not changeable, it has particular estate tax planning uses that are beyond the scope of this brief summary.
If it appears to us that an Irrevocable Trust vehicle is necessary or recommended in your situation for tax purposes or for long term care planning, we will explain the reasons for and benefits of the particular trust we are suggesting, and discuss the legal and other costs in creating and maintaining the trust.