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Residing trusts could be revocable or irrevocable. Testamentary trusts are frequently irrevocable after set up but could be revocable via a will if the grantor remains alive.
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These illustrations are from corpora and from resources online. Any opinions within the examples do not represent the impression on the Cambridge Dictionary editors or of Cambridge University Press or its licensors.
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That has a revocable trust, the grantor can change the beneficiaries and belongings providing they’re alive and physically and mentally able to take action. On the other hand, revocable trusts normally do not give tax Advantages or security from creditors.