Courtesy Law

Irrevocable Trusts are advanced estate planning techniques that allow you to transfer certain assets into an irrevocable trust for the ultimate benefit of your named beneficiaries, or in the case of charitable remainder trusts, your named charities, while retaining certain interests in the irrevocable trusts during your lifetime or during a specific term of years.  Use of irrevocable trusts may, under certain circumstances, minimize gift and estate tax consequences.  Further discussion of irrevocable trusts is best accomplished in a personal consultation because of the numerous issues and requirements surrounding these types of trusts.