Arizona Irrevocable Trust Attorneys in Scottsdale, AZ – Magellan Law
Irrevocable Trusts are most often used to avoid estate taxes and to protect the estate from creditors. Once you set up an irrevocable trust, you cannot change it. However, well-drafted Irrevocable Trusts are still changeable and amendable. For example, there is usually a Trust Protector or Special Trustee with powers to make amendments. In addition, such a trust can be changed by a court. The grantor, or person who set up the trust, gives up all rights, title and interest to the assets that are placed in the irrevocable trust. There are many ways to set up an irrevocable trust and the experienced Estate Planning attorneys at Magellan Law are very familiar with the different benefits and options of the trusts. Contact Paul Deloughery and his estate planning team for a personal and complimentary consultation to discuss what option is best for you.