An irrevocable trust is a trust in which you, as Grantor, give up control of the assets but ultimately direct in the trust document, how funds are to be distributed. Irrevocable trusts can be created through a trust agreement or through a will. Irrevocable trusts created through wills are also known as testamentary trusts. By creating an irrevocable trust, you may protect your assets from creditors and spendthrift beneficiaries. You may also avoid paying estate taxes on these assets. AmeriServ, as trustee, has discretion over disbursements based on the language provided in the document. Experienced administrators and portfolio managers are assigned to your account to manage your funds, for years to come.
To learn more about the irrevocable trust options, you can call us toll free at 800-837-2265 or send us an email.
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