QUESTION
What is the difference from a revocable trust and irrevocable trust
Asked on Oct 25th, 2019 on Trusts and Estates - California
More details to this question:
I am single, and 2 kids and want to make sure noone can get my assets yet be able to change at anytime or have access to my money
1 ANSWER
Homeowners Association Law Attorney serving Brea, CA
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Johnson and Cruz, PC
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Dear Jayne,
A revocable trust would allow you to modify or amend the trust as the trustee of the revocable trust. An irrevocable trust is designed to not allow for any changes or amendments without court intervention.
If your goal is to be able to change the trust I would have an attorney create a revocable trust which would allow your kids as beneficiaries to receive from your assets after a designated time in accordance with your wishes.
Sincerely,
Amanda
Answered on Oct 25th, 2019 at 2:04 PM