“Information Bits from the Boss: Samantha provides brief answers to clients frequently asked questions”
What if I have an Irrevocable trust and I want to get rid of it?
We may use an irrevocable trust for asset protection planning, so we sometimes get asked whether a client can get rid of an irrevocable trust after it is created? The trust agreement can provide for circumstances under which an irrevocable trust can be terminated or eliminated. Furthermore, Pennsylvania law also permits an irrevocable trust to be terminated under certain circumstances. If you have a trust already in existence or you are thinking about creating a trust, I’d be happy to talk to you about the ways that you can handle a trust if you want to terminate it or make changes to it. I would be happy to talk with you about all the options and review your trust that you may have in place now during your free initial consultation.