Revocable and Irrevocable Trusts
When creating a trust, most people create a revocable trust. A revocable trust, which is has several key differences from an irrevocable trust. Both allow for transfer of property to heirs without the need of a probate court, which saves time, money, and protects the privacy of all parties involved. However, in some situations, a revocable or an irrevocable trust may be more useful to all parties involved.