When it comes to understanding trusts, knowing the difference between revocable and irrevocable trusts is crucial. If you ask for a revocable trust and get an irrevocable one, or vice versa, the legal and tax consequences will be significant. Revocable Living Trusts A revocable living trust, also known as a revocable trust, living trust or … Continue reading ENTREPRENEURS, ESTATE PLANNING and LIVING TRUSTS