Download this New Jersey Irrevocable Trust form in order to establish an entity to hold your specified assets and property during your life as well as after you die, for the benefit of your beneficiaries.  This type of instrument provides continuity of management of assets as well as flexibility for the grantor to specify how, when and for what purpose he wants his or her funds distributed.  For instance, a grantor may specify that his beneficiaries should not receive their full share of the funds until they reach a ceratin age, but until then, the trustee may disburse for educational expenses.  Or a grantor may decide that his beneficiaries should only use the funds for the purchase of a house.  The trustee appointed by the grantor is obligated to follow the provisions set forth in the trust and maintain the trust until all the funds are disbursed, as provided therein.  An irrevocable trust is not meant to be changed or terminated and if created, executed and maintained properly, the assets in the trust may not be counted toward the grantor’s taxable estate.

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