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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Re: do title holding trusts have to be irrevocable? Posted by Craig in LA on February 20, 2004 at 4:26 PM In Reply to: do title holding trusts have to be irrevocable? posted by michael cordero on February 20, 2004 at 1:07 PM : I spoke with my attorney about title holding land trusts. He recommended that the trust should be irrevocable and that 100% of the beneficial interest should be assigned to the beneficiary. Your thoughts? The most common use of an irrevocable trust is to remove the assets of the trust from an estate for tax purposes. The next most common is to make it difficult to force a sale for asset protection purposes. The quick and dirty of an irrevocable trust is that it is effectively a legal entity, and in California usually requires a court order to change or alter. Using an irrevocable trust will create a level of complexity which is not needed most of the time. Follow Ups: Post a Followup: Name : E-Mail : Subject : Comments: : : I spoke with my attorney about title holding land trusts. He recommended that the trust should be irrevocable and that 100% of the beneficial interest should be assigned to the beneficiary. Your thoughts? : The most common use of an irrevocable trust is to remove the assets of the trust from an estate for : tax purposes. The next most common is to make it difficult to force a sale for asset protection purposes. : The quick and dirty of an irrevocable trust is that it is effectively a legal entity, and in California : usually requires a court order to change or alter. Using an irrevocable trust will create a level of : complexity which is not needed most of the time. Optional Link URL: Link Title: Optional Image URL: [ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] WWWAdmin 2.0a © 1997 Matt Wright and DBasics Software Company, All Rights Reserved

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