Irrevocable Trust For Grandchildren
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A Trust is an entity which owns assets for the benefit of a third person (beneficiary). Trusts can be revocable or irrevocable. An irrevocable trust is an arrangement in which the trustor departs with ownership and control of property. Usually this involves a gift of the property to the trust. The trust then stands as a separate taxable entity and pays tax on its accumulated income. Trusts typically receive a deduction for income that is distributed on a current basis. Because the trustor must permanently depart with the ownership and control of the property being transferred to an irrevocable trust, such a device has limited appeal to most taxpayers.
A spendthrift trust is a trust that restrains the voluntary and involuntary transfer of the beneficiary's interest in the trust. They are often established when the beneficiary is too young or doesn't have the mental capacity to manage their own money. Spendthrift trusts typically contain a provision prohibiting creditors from attaching the trust fund to satisfy the beneficiary's debts. The aim of such a trust is to prevent it from being used as security to obtain credit.
- View Irrevocable Trust Agreement with Joint Trustors for Benefit of their Children with Spendthrift Trust Provisions
- View Trust to Provide Funds for the Purchase of Birthday Presents for Members of Grantor's Family to Continue after Grantor's
- View Irrevocable Funeral Trust - Prearranged Funeral Trust Account
- View Irrevocable Trust Funded by Life Insurance
- View Irrevocable Trust Agreement for Benefit of Trustor's Children Discretionary Distributions of Income and Principal
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