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An irrevocable trust cannot be changed or revoked once it's created, providing strong asset protection and potential tax benefits, but surrendering control over assets. In contrast, a revocable trust allows the grantor to modify or dissolve the trust during their lifetime, offering flexibility and control over assets while alive.

An irrevocable trust cannot be changed or revoked once it's created, providing strong asset protection and potential tax benefits, but surrendering control over assets. In contrast, a revocable trust allows the grantor to modify or dissolve the trust during their lifetime, offering flexibility and control over assets while alive.

An irrevocable trust cannot be changed or revoked once it's created, providing strong asset protection and potential tax benefits, but surrendering control over assets. In contrast, a revocable trust allows the grantor to modify or dissolve the trust during their lifetime, offering flexibility and control over assets while alive.

An irrevocable trust cannot be changed or revoked once it's created, providing strong asset protection and potential tax benefits, but surrendering control over assets. In contrast, a revocable trust allows the grantor to modify or dissolve the trust during their lifetime, offering flexibility and control over assets while alive.

If a trust that owns an annuity is dissolved, the outcome depends on the type of trust and its terms. Generally, upon dissolution of a revocable trust, the annuity would revert to the grantor, who can then designate new beneficiaries or manage it directly. However, if the trust is irrevocable, the annuity's ownership and benefits may be distributed according to the trust's terms, potentially leading to a lump-sum payout or a series of payments over five years, subject to tax implications. It's essential to consult with a legal expert to navigate these complexities effectively.

Writing a will is a great way to legally document your plans for where your money will go when you die or become incapacitated, who will be in control of your estate, and who the beneficiaries will be. Additionally, for those who have chosen a trust instrument to control their assets, perhaps as part of a tax mitigation strategy, it can help establish the person who will ultimately take responsibility for following the law and running the trust. Why Pick an Executor or Trustee? Who to Pick? What factors should you consider when picking someone for the role of an executor or trustee? Read more and explore the answers to these questions in the Choosing An Executor and or Trustee Blog Post. https://bit.ly/3Y6XfS3 We are here to help guide you toward growing your wealth and making it work for you and your legacy. Speak to the Synergy Capital Solutions team today. [email protected]

A revocable trust can be changed or dissolved by the grantor during their lifetime, offering flexibility and control. In contrast, an irrevocable trust cannot be altered once established, providing asset protection and tax benefits. Understanding these distinctions is crucial for effective estate planning. https://lnkd.in/geHQ__CX #Trusts #EstatePlanning #RevocableTrust #IrrevocableTrust

Avoid becoming an easy target for litigation lawyers by having a solid asset protection strategy in place.  Secure your wealth and ensure your financial security with the right planning.  Learn more today. #realestatedeals #realtorproblems #realtormemes #nyrealtor #homeforsale #realestateagentlife #realestateadvice #cpa #taxadvice #taxhacks #homeowners #financialfreedom #taxfree #miamirealtor

Unclear forfeiture guidelines in plan documents can result in fines, large payments, or legal action. Help plan sponsors reduce risks by reviewing documents per Fred Reish’s recommendations. https://lnkd.in/ePGdWFFM

Using a trust can offer protection and control over asset distribution. Read about trust options in our newest blog. #EstatePlanning https://lnkd.in/g22y2JC7 https://lnkd.in/g22y2JC7