(3 votes, average: 3.67 out of 5)
Loading...Download the Arizona Irrevocable Living Trust form which allows you, as the Grantor, to transfer your property into a new entity called an irrevocable trust. This trust is administered by a trustee who is obligated to take care of the property with the best interests of those who are designated to receive the property in mind. The people who you designate to receive the property are called beneficiaries. As grantor of an irrevocable trust, you are giving up control over the property you decide to place in the trust and if the trust is properly created, that property may not be included in your taxable estate.
A irrevocable trust is not made to be changed or terminated by the grantor during the grantor’s life without risking certain consequences, like tax consequences.