Escape Taxes Securely With Irrevocable Trust Secrets Now

Types of Irrevocable Trusts

There are several types of irrevocable trusts, each serving different purposes and offering unique benefits:

1. **Life Insurance Trusts**: These trusts are designed to exclude life insurance proceeds from the taxable estate, providing liquidity to pay estate taxes or to support beneficiaries³.

2. **Charitable Remainder Trusts**: These allow you to donate to a charity while providing income to your beneficiaries, offering both estate tax deductions and income tax benefits⁴.

3. **Special Needs Trusts**: These are used to provide for a beneficiary with special needs without jeopardizing their eligibility for government benefits⁵.