Feibleman Case Attorneys at Law - Family Law, Divorce, Estate Planning, Personal Injury, Alternative Dispute Resolution attorneys / lawyers in Oregon

Irrevocable Trusts:

In simple terms, a trust is a relationship in which a person who creates a trust, referred to as a trustor, transfers property, referred to as the trust assets, to another person, called a trustee. The trustee then manages and controls the assets for the benefit of a third person, called a beneficiary. The trustee must follow the terms of the trust.

Trusts can be irrevocable meaning that they cannot be changed or terminated even during the life of the trustor. A major characteristic of irrevocable trust is that the trust assets are placed out of the control of the person who created the trust. Some types of irrevocable trusts may reduce death taxes and come may save income taxes. Irrevocable trusts may also avoid probate costs and provide some confidentiality to the division of the property put into the trust. These may be useful to certain individuals in certain circumstances.

Feibleman & Case P.C. does not prepare irrevocable trusts. If you are interested in learning more about this type of trust we will refer you to another lawyer who specializes in that type of work.

***Feibleman and Case P.C. provides the above information as a service to potential and current clients as well as continuing education to other lawyers. A person's accessing the information contained in this web site, is not considered as retaining Feibleman & Case P.C. for any case nor is it considered as providing legal advice. Feibleman and Case P.C. cannot guarantee the outcome of any case.