Definition
Irrevocable trust
A trust that cannot be annulled by the grantor, the person who originally set up the trust.
RELATED TERMS ...
The deposit of Cash and permitted securities, as specified in the Bond indenture, into an Irrevocable trust sufficient to enable the Issuer to fully discharge its obligations under the bond indenture.
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Irrevocable Trust
A trust that can't be modified or terminated without the permission of the beneficiary. The grantor, having transferred assets into the trust, effectively removes all of his or her rights of ownership to the assets and the trust.
Irrevocable trust
A trust that is unable to be amended, altered, or revoked.
Issue
A particular financial asset.
An irrevocable trust in which property, investments, or money is donated to a charity, but the grantor, or donor, continues to use the property or receive income from the investments or money while still alive.
Typically, irrevocable trusts of this nature will also stipulate the type of withdrawals that can be made from the bypass trust, subject to the approval of the executor of the trust arrangement.
An irrevocable trust that is designed to pay trust income (and principal, if needed) to an individual's spouse for the duration of the spouse's lifetime.
An irrevocable trust that provides an effective way to reduce gift tax on property while providing an income annuity to the grantor. At the termination of the trust, the trust principal is paid to the beneficiary of the trust.
Irrevocable Trust
A trust which the grantor cannot terminate.
-J- Joint Account
An account owned by two or more people which enables all of them to use the account.
Joint or Survivor ...
You have the right to change your designation of contingent beneficiaries, except in the case of an irrevocable trust or a life insurance policy whose terms and conditions were established in a court ruling.
revisionary trust Irrevocable trust that becomes a revocable trust after a specified period of... revocable trust A trust that may be altered or terminated during the grantor's lifetime. Since...
 See also: Cable, Trust, Asset, Close, Investment
  
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