Cashtoons

Irrevocable Living Trusts

August 28, 2022

What are irrevocable living trust? Trusts where the grantor permanenantly gives over control of the assets in the trust over to a trustee. The grantor no longer owns this money, which means that they will not pay capital gains taxes from stocks or other investments.

money tree

While not being tax-free, this can reduce the taxes paid by the grantor and the beneficiary. For those who know that they want a certain portion of assets to go to a particular person or even a charity, this can be a good way to go. Clearly, the grantor would not be in need of this money or they wouldn’t sign it away.

stack of money

Sources:

sources

https://www.findlaw.com/estate/trusts/irrevocable-living-trust.html


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