Irrevocable and Revocable Trusts,Taxes and Florida Facts, Pt. I
Irrevocable and revocable trusts are taxed differently, which makes sense since they are different entities. An irrevocable trust is a trust that “cannot be modified, amended or terminated without the permission of the grantor's named beneficiary or beneficiaries.” In contrast, as indicated in our previous blog, a grantor in a revocable trust can alter or [...]
