Advisors often include irrevocable trusts as part of a comprehensive estate plan to achieve both tax and non-tax goals. The use of irrevocable trusts can cause apprehension because of the perception that irrevocable trusts are inflexible in changing circumstances. This article, by my friend and colleague Tereina Stidd, explores how the use of a trust protector may provide flexibility in an irrevocable trust to address these concerns. Read on to learn more.
Timothy P. Murphy is an estate planning and elder law attorney whose practice emphasizes helping people to build, preserve and pass on their wealth. He works with his clients to accomplish their goals while avoiding unnecessary court proceedings and minimizing or eliminating exposure to death taxes.
Latest posts by Timothy P. Murphy (see all)
- When and Why to Update Your Estate Plan - December 4, 2023
- Debunking Common Estate Planning Myths - December 2, 2023
- Why ‘I’m Too Young for Estate Planning’ is a Fallacy - November 30, 2023
