Estate Planning : The Purpose of an Irrevocable Living Trust

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Irrevocable living trusts are rare and mainly used to keep the IRS from taxing the death benefit of a life insurance policy. Learn the purpose of an irrevocable living trust from an estate planning and probate lawyer in this free video on estate law.

Expert: Brad Wiewel
Contact: www.texastrustlaw.com
Bio: Brad Wiewel is board certified in estate planning and probate by the Texas Board of Legal Specialization and has been practicing law since 1978.
Filmmaker: Demand Media

Comments

Kev says:

"The money can be spent maybe by their child, but the money won't go anyplace other than where mom and dad want the money to go when that child dies."

I assume that the gentleman misspoke here. We are concerned with what happens to the money when mom and dad die. We are not talking about what happens when the child dies, correct?

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