Pro Tip: The principal disadvantage of revocable trusts is that they don’t defend your assets from creditor or tax publicity. Because you can access the funds, They may be subject to standard taxation identical to any of the other assets. Irrevocable trust Trusts are divided into two most important types: https://estate-planning-trusts-an20317.wikiexcerpt.com/4104135/creating_a_legal_trust_options