Three Main Differences between a Revocable and Irrevocable trust: 1️⃣ Control: Revocable Trust: The grantor retains control and can amend or revoke the trust during their lifetime. Irrevocable Trust: Once established, the terms generally cannot be changed by the grantor. The assets are no longer considered owned by the grantor. 2️⃣ Asset Protection: Revocable Trust: Provides no asset protection since the grantor maintains control and ownership of the assets. Irrevocable Trust: Offers potential asset protection because the assets are no longer owned by the grantor and are protected from creditors in many cases. 3️⃣ Estate Tax Implications: Revocable Trust: Assets in the trust are still considered part of the grantor's estate for estate tax purposes. Irrevocable Trust: Depending on the structure and timing of the trust, assets may be removed from the grantor's estate, potentially reducing estate taxes. We help to fund all kinds trusts! Choose wisely for your estate planning needs! #Trusts #EstatePlanning #FundingTrusts
TrustFunding.com
Law Practice
Bloomfield Hills, Michigan 28 followers
Funding a trust can be a time consuming and most times overwhelming process. Let us do the work for you.
About us
Let us do the work for you. Funding a trust can be a time consuming and most times overwhelming process. From understanding the documentation the financial institution needs, filling out the necessary forms or responding to the technical questions that might come your way we find that most all trusts are improperly funded. Let us make sure that the goals you set out to accomplish with estate planning actually happen by letting TrustFunding.com finish the job.
- Website
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https://trustfunding.com/
External link for TrustFunding.com
- Industry
- Law Practice
- Company size
- 2-10 employees
- Headquarters
- Bloomfield Hills, Michigan
- Type
- Privately Held
- Founded
- 2022
Locations
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Primary
Get directions
40950 Woodward Ave
Bloomfield Hills, Michigan 48304, US
Employees at TrustFunding.com
Updates
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👋 Life is unpredictable, and it's essential to plan for all aspects of it, even our digital presence. 🌐 Check out this insightful guide from Trust & Will on how to plan for your Facebook and Instagram accounts after you're no longer with us. 📲💔 🔗 https://lnkd.in/epyg3Kgx Topics covered include: ✅ Legacy Contacts: Appoint someone to manage your account ✅ Memorialization settings: How to preserve your memories ✅ Content considerations: What to leave behind and what to remove ✅ Account deletion options: Understanding the process Let's make sure our online presence reflects our true selves even when we're not around. 🕊️ Feel free to share this info with your loved ones! 💙 #DigitalLegacy #SocialMediaPlanning #LegacyMatters Remember, it's never too early to plan for the future. 📆💝