There are two main types of trusts: revocable trusts and irrevocable trusts. By their title, one could be forgiven for assuming that a “revocable” trust, as its name would imply, is changeable, and that an “irrevocable” trust, also as its name would imply, cannot be changed. As with many legal […]

A trust is administered by a trustee — a person selected by the settlor (the person who creates the trust) to administer the trust’s assets for the benefit of the trust’s beneficiaries. Because the settlor specially selected the named trustee to fulfill that role, the text of the trust instrument […]