revocable trust
Definition
A trust that may be altered or terminated during the grantor's lifetime. Since the trust may be altered at any time until the grantor's death, it is considered part of the grantor's estate and is subject to taxation. The property is passed on to the beneficiaries only after the grantor's death, and the revocable trust then becomes irrevocable.
Cite this definition
Related Terms
inter vivos trust, revisionary trust, bypass trust
'revocable trust
' appears in the definitions of these terms on BusinessDictionary.com
bypass trust, termination of trust, testamentary account, living trust
Related Research Articles from the InvestorGuide.com University
Audits and FraudLearn everything you need to know about correspondence audits, office audits, and field audits. Also describes tax shelters, and how to avoid abusive and illegal ones.
Credit FraudCredit fraud is an increasingly serious problem, growing almost threefold in the past five years. Are you protected and do you know what to do if this happens to you? This article includes steps to prevent credit fraud, and how to deal with it if it does occur.
Credit RegulationsInformation is being collected about your credit behavior and used by others to rate you. Learn what your rights are when it comes to credit laws. Understand the Fair Credit Reporting Act (FCRA), the Equal Credit Opportunity Act (ECOA), and the Fair Debt Collection Practices Act (FDCPA), and how they protect you.
Featured Sponsor
|