Revocable & Irrevocable Trusts: Piloting the Maelstrom with a Steady Hand

Join Lawline Faculty Member Michael Markhoff as he explains the use of revocable and irrevocable trusts as techniques to minimize estate taxes, create centralized management of a client’s assets and protect the client’s assets (and those of her or his children and grandchildren) from creditors. These trusts can be used to protect the client’s estate from remarriage of the surviving spouse, to protect the surviving spouse in case of dementia and similar disorders and to act as a hedge to ensure that any future estate appreciator is sheltered from estate tax.

With a sharp eye for nuance and an expansive body of knowledge, Markhoff leaves no stone unturned in this analysis of the benefits and drawbacks of revocable and irrevocable trusts. 

Learning Objectives:

I.   Understand the basic uses of revocable and irrevocable trusts

II.  Spot situations in which these techniques may be relevant when discussing estate planning with clients 

III. Recognize the advantages and disadvantages of these techniques in order to determine the relevance for your clients