Irrevocable trusts are often misunderstood and, as a result, either avoided altogether or used without a full understanding of how they actually work. While the term “irrevocable” can sound rigid, these trusts can serve important planning purposes when used appropriately.
The key is knowing when they are helpful, what protections or limitations they offer, and how they differ from other common trust structures. Without that clarity, it’s easy to either overuse them or miss opportunities where they may be beneficial.
In this webinar, MRC’s Paula Clarkson Chamberlain breaks down the major types of irrevocable trusts, how they are used in estate planning, and the most common pros, cons, and pitfalls to be aware of.
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