THE DIFFERENCE BETWEEN REVOCABLE AND IRREVOCABLE TRUST PROPERTIES
“What’s the difference between revocable and irrevocable trusts?” It’s not a trick question. The revocable trust is revocable and the irrevocable trust is irrevocable. I don’t mean to be silly, but that’s the difference.
Ok, there are other differences when it comes to the revocable vs. irrevocable trust decision. The income tax, estate tax, and asset protection issues all hinge on whether you have a revocable trust or irrevocable trust.