When setting up a trust, one of the biggest decisions you’ll make is whether to create a revocable or irrevocable trust.
Each option offers unique benefits depending on your goals — like asset protection, tax planning, or maintaining control.
A Revocable Trust (often called a Living Trust) is flexible.
You can change, amend, or even cancel it at any time during your lifetime.
✅ Full control over your assets
✅ Changeable as your situation evolves
✅ Avoids probate after death
⚠️ Limited asset protection from creditors
An Irrevocable Trust cannot be changed or revoked once it’s created (with few exceptions).
You transfer ownership of your assets to the trust permanently.
✅ Strong asset protection from creditors
✅ Potential estate tax advantages
✅ Medicaid planning for long-term care
⚠️ Loss of direct control over the assets
| Feature | Revocable Trust | Irrevocable Trust |
|---|---|---|
| Can it be changed? | Yes | No (with rare exceptions) |
| Asset Protection | Minimal | Strong |
| Probate Avoidance | Yes | Yes |
| Estate Tax Benefits | Limited | Significant |
| Control Over Assets | Full control | Little to no control |
✅ A revocable trust gives you flexibility and control, ideal for everyday estate planning.
✅ An irrevocable trust offers strong protection and tax benefits, but you must give up control.
✅ The best choice depends on your personal goals, estate size, and need for asset protection.
Need help choosing the right type of trust for your situation?
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EZ Living Trust is a division of Strategic Choices Financial, Inc. Neither is a law firm and cannot provide legal or tax advice. The information on this site is for informational and educational purposes only.
Strategic Choices Financial, Inc, dba EZ Living Trust is registered as a Legal Document Assistant in Los Angeles County, CA #987456, and is licensed and bonded.
