In Minnesota, an Irrevocable Trust cannot be modified or terminated except in very limited circumstances.
Irrevocable Trusts are much more rigid than their Revocable Trust cousin.
However, there are significant additional asset protection benefits that result from this reduced flexibility that cannot be duplicated using only a Revocable Trust.
Check out this helpful information on the significant asset protection benefits of Irrevocable Trusts:
Why should you use a Trust when a Will so much cheaper? A Will IS a basic, and necessary, part of any Estate Plan, but they are no match for the power of Trusts. Check out these 14 Top Benefits of Trusts to find out why!
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