Loading...Download this Iowa Irrevocable Living Trust form in order to create an entity to separately hold your selected assets and property for eventual distribution to your heirs or other chosen beneficiaries. The trust provides flexibility as to how and when your assets are distributed. You can put restrictions on how how the money is spent and when it is spent. For instance, some grantors specify that a beneficiary cannot have the money from the trust until they reach a certain age.
Irrevocable trusts are not meant to be changed or revoked. In exchange for giving up the right to change or revoke, a grantor can remove property from his or her taxable estate, if the trust is created and executed properly.