Don’t Miss Out on Estate Planning Opportunities – Annapolis and Towson Estate Planning
People often overlook critical steps when they are doing their estate planning.
People often overlook critical steps when they are doing their estate planning.
On the surface, the difference between revocable and irrevocable trusts couldn’t be any more straightforward. You can change your revocable trust whenever and however you choose. You can’t change your irrevocable trust at all.
Sometimes, despite best intentions and best efforts, an estate plan leaves unintended problems for heirs, trustees and others to solve. For example, a trust may have become outdated because of changes in tax laws, the birth or death of family members, or special circumstances like an heir’s disability.
Irrevocable trusts appear, by definition, to be unchangeable and inflexible. But are they?