[WSBAPT] Irrevocable Trusts

[Heather de Vrieze]

A lot depends on the purpose of the trust. Is it a trust established for a special needs beneficiary, for annual gift exclusion transfers, or something else?

The language you describe will work to make it irrevocable, but sometimes there is a need to include specific authority to modify to account for changes in the law.

Heather

Heather S. de Vrieze
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From: wsbapt-bounces at lists.wsbarppt.com <wsbapt-bounces at lists.wsbarppt.com> On Behalf Of michael at westseattleattorney.com
Sent: Thursday, December 17, 2020 3:54 PM
To: WSBA Probate & Trust Listserve <wsbapt at lists.wsbarppt.com>
Subject: [WSBAPT] Irrevocable Trusts

Its been a while since I was asked to do a irrevocable trust. It seems that the primary provision is as follows:

The Trust shall be irrevocable, and the Trustor hereby expressly relinquishes any right or power, whether along or in conjunction with others, in whatever capacity, to alter, amend, revoke, or terminate the Trust, or any of the terms of this Agreement, in whole or in part, or to designate the persons who shall possess or enjoy the trust property, or the income therefrom.  By this instrument, the Trustor intends to and does hereby relinquish absolutely and forever all possession.

Is that sufficient to create the Trust?  Are there any other differences between it and a RLT?  Any  CLEs one could point me to as to "irrevocable trusts" so I can get up to speed?

Thanks
Mike



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