What Happens to an Irrevocable Trust When the Grantor Dies: A Guide to Post-Grantor Administration
Losing a loved one is difficult. If they established an irrevocable trust, understanding its post-grantor administration is crucial for a smooth transition. This guide provides clear, actionable steps for navigating this process. Understanding Irrevocable Trusts and Post-Grantor Administration An irrevocable trust is a legal arrangement where a grantor (the person setting up the trust) transfers assets to a trustee for the benefit of beneficiaries. Unlike a revocable trust, the grantor cannot change or terminate the trust after its creation....