Trustee and Beneficiary in Trust

Community Contributed
By Eileen M.S. Nims, Esq.
A revocable trust is a wonderful invention. It allows you to protect your assets from going through probate, while maintaining full control over your properties while you are alive. That is because during your lifetime, you are both the trustee and the beneficiary. Upon your passing, the trust becomes irrevocable. This means that no changes can be made to the instructions and the content of the trust. A huge advantage of an irrevocable trust is that is also shields the beneficiaries’ share of assets against predators, creditors and disability.
Predators are those people who suddenly become the beneficiary’s best friend, or people who ask money for their child’s medical bills, or people who will sell you a bridge in Iowa.…












