irrevocable trust

Definition

Type of trust that cannot be annulled, changed, or terminated by its creator (trustor) without the agreement of the trust's beneficiary or beneficiaries. Commonly, all trusts, once created, are irrevocable in the sense that the trustor loses all control of the property placed in the care of the trustees for the benefit of the beneficiaries. However, the US law allows for trusts where the trustor can expressly provide for the return of trust property under certain conditions.

单词	irrevocable trust
释义	irrevocable trust Definition Type of trust that cannot be annulled, changed, or terminated by its creator (trustor) without the agreement of the trust's beneficiary or beneficiaries. Commonly, all trusts, once created, are irrevocable in the sense that the trustor loses all control of the property placed in the care of the trustees for the benefit of the beneficiaries. However, the US law allows for trusts where the trustor can expressly provide for the return of trust property under certain conditions.
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