In short

A revocable trust can be changed, amended or cancelled whenever you want; an irrevocable trust generally cannot once it is signed. Most Arizona estate plans use a revocable living trust because it stays flexible, uses your assets to take care of you while you are alive, and then passes them under your instructions. Irrevocable trusts are used for narrower goals such as asset protection or tax planning.

Key points

Revocable: you keep control and can amend or revoke at any time.
Irrevocable: locked in; changes usually need beneficiary consent or a court.
Most families use a revocable living trust as the core of the plan.
Irrevocable trusts trade control for specific protections and have their own tax rules.

Full written answer: Revocable vs. irrevocable trusts: the difference

Description

Revocable Living Trusts are what we suggest for most people, since you can change them as often as you want! They provide much more flexibility and can adapt to your life as it changes. To get your estate plan set up today, visit the link in our bio!