An irrevocable trust is a type of trust that can’t be changed or terminated without the authorization of the beneficiary. The primary purpose for setting up an irrevocable trust is for estate and tax considerations. This type of trust is advantageous with regard to estate assets in that it eliminates all incidents of ownership, and thus it effectively eradicates the trust's assets from the grantor's taxable estate.
IRREVOCABLE TRUST AGREEMENT
THIS IRREVOCABLE TRUST AGREEMENT made and entered into at _________, _________ on _________, 19__, by and between _________, of _________, hereinafter called the GRANTOR and _________, or its successor, as Trustee, hereinafter called the TRUSTEE.
WITNESSETH:
WHEREAS, the Grantor hereby irrevocably transfers and delivers to the Trustee certain insurance policies described in Schedule "A" hereto annexed to be held in trust; and
You must log in to download the form. If you don't have an account, you can sign up for free.
Printer-friendly version