Trusts
What is the difference between a revocable and irrevocable trust?
Revocable vs. Irrevocable Trusts
Revocable Trust: Can be changed or terminated by the grantor at any time. It offers flexibility and probate avoidance but provides little to no asset protection from creditors.
Irrevocable Trust: Generally cannot be altered once created. Because the grantor relinquishes direct control and ownership of the assets, it offers much stronger asset protection.
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