Can a parent change a revocable trust to an irrevocable trust?

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Can a parent change a revocable trust to an irrevocable trust?

We want to protect my mom’s assets from a possible civil suit down the road.The currently has a revocable trust. Should we consider changing her trust to an irrevocable trust to protect her assets from a civil law suit? If so, how much would that cost?

Asked on June 3, 2012 under Estate Planning, Texas

Answers:

M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney

Answered 9 years ago | Contributor

Trusts are indeed a good way to protect assets but some one would need to read the trust you have and advise you of the best way to go. Generally speaking, irrevocable trusts are less likely to be invaded by judgement, etc.  The cost varies from state to state and attorney to attorney.  You should find a few good attorneys and then compare prices.  Good luck.


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