Life estates can provide effective means to create joint ownership of property, avoid probate and transfer property after death without incurring gift taxes.
On the surface, the difference between revocable and irrevocable trusts couldn’t be any more straightforward. You can change your revocable trust whenever and however you choose. You can’t change your irrevocable trust at all.
Copyright © Huizenga Law Firm, P.C. All rights reserved. Some artwork provided under license agreement.
