Trust & Estate Planning Explained: Revocable vs. Irrevocable & Why You Need One
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Curious about irrevocable trusts? 🤔 Here are two key insights about irrevocable trusts: 1️⃣ They can't be changed or revoked once established. 2️⃣ They're often used to protect assets and ensure they’re managed according to your wishes. On the other hand, a revocable living trust is treated by the IRS as if all the income is yours personally. Get advice from your financial manager, your attorney, and a CPA before making a decision on what you need. What are your thoughts on trust planning? #Est
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