Trust law is a complicated topic and the laws vary in different jurisdictions and for different types of trust arrangements. Generally, with the exception of charitable trusts all individual trusts must have a dated when the trust will terminate. Trusts should always be drafted by a professional who specializes in trust law in your jurisdiction.
Generally, an irrevocable trust is titled 'irrevocable' or is designated as such somewhere in the first few paragraphs.
Yes.
Provisions of a living trust remain valid as long as you stay alive, but the benefactors of your estate are not bound by these provisions once you have died. An irrevocable trust binds the benefactors of your estate to the trust's provisions.
By their very nature an irrevocable trust is very difficult to "undo". You need to consult with an attorney who is an expert in trust law in your state and also an expert in federal tax laws. You can gain some background regarding the difficulty of disabling irrevocable trusts at the link below.
That means the provisions of the trust agreement cannot be changed.
The manner by which the trust can and should be terminated should be recited in the trust document.
Generally, an irrevocable trust is titled 'irrevocable' or is designated as such somewhere in the first few paragraphs.
What is the difference between credit shelter trust and irrevocable trust?
no
No. A testamentary trust is irrevocable. The maker is deceased and cannot revoke it.No. A testamentary trust is irrevocable. The maker is deceased and cannot revoke it.No. A testamentary trust is irrevocable. The maker is deceased and cannot revoke it.No. A testamentary trust is irrevocable. The maker is deceased and cannot revoke it.
A Grantor Retained Annuity Trust is irrevocable.
No. The grantor retains no control over an irrevocable trust, legally.
yes
if a settlor of an irrevocable trust feels that he was not properly informed by his attorney of all the restrictions what can he do
Can you protect your assets from bankruptcy by placing them in an irrevocable trust?
You can get information on what a irrevocable trust is at the following sites I found for you to have a look at www.dummies.com/.../revocable-versus-irrevocable-trusts.htm ,en.wikipedia.org/wiki/Trust_law
An irrevocable trust can be revoked or dissolved under only very limited circumstances. Essentially, the irrevocable trust must have it written into the wording of the trust and a possibility of dissolving it can only be there if the trust is functioning completely improperly or other than the way it was intended.