irrevocable trust

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Financial Dictionary

Irrevocable Trust

A trust that, once its setup, cannot be changed at all.

Investopedia Commentary

This is to prevent fraudulent activities.

See also: Exemption Trust, Trust, Unit Trust

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Financial Dictionary

irrevocable trust

A trust in which the grantor gives up any right to amendments or termination. Income from an irrevocable trust is taxable to the beneficiary if disbursed or to the trust if not disbursed. Compare revocable trust.

Wall Street Words: An A to Z Guide to Investment Terms by David L. Scott.
Copyright © 2003. Published by Houghton Mifflin.
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Legal Dictionary

Main Entry: irrevocable trust
see TRUST

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