Irrevocable trust definition

Irrevocable trust means a trust over which no person holds a power of revocation. A power holder's lack of capacity to exercise a power of revocation negates the power of revocation unless an agent of the power holder under a durable power of attorney, a conservator of the power holder, or a plenary guardian of the power holder is serving and the agent, conservator, or guardian is authorized to exercise the power of revocation.
Irrevocable trust means a trust that may not be revoked after its creation by the trustor.
Irrevocable trust means a trust:

Examples of Irrevocable trust in a sentence

  • Irrevocable trust accounts are deposit accounts held by an irrevocable trust established by a statute or a written trust agreement (12 C.F.R. § 330.13).


More Definitions of Irrevocable trust

Irrevocable trust means a trust in which the settlor may not revoke or terminate all or part of the trust without the consent of a person who has a substantial beneficial interest in the trust and the interest would be adversely affected by the exercise of the settlor's power to revoke or terminate all or part of the trust.
Irrevocable trust means a grantor trust that may be established prior to the occurrence of a Change in Control of the Company to assist the Company in fulfilling its obligations under this 2005 Plan but which shall be established by the Company in the event of a Change in Control of the Company. All amounts held in such Irrevocable Trust shall remain subject to the claims of the general creditors of the Company and Participants in this 2005 Plan shall have no greater rights to any amounts held in any such Irrevocable Trust than any other unsecured general creditor of the Company.
Irrevocable trust means a trust that cannot be revoked by the grantor or terminated by a court. A trust terminating only upon the occurrence of an event outside the control or direction of the beneficiary or the grantor is irrevocable.
Irrevocable trust means a trust that is not a revocable trust.
Irrevocable trust means a legal entity created for the benefit of designated beneficiaries which shall not be revoked or
Irrevocable trust means an irrevocable trust established by statute or a written trust agreement, except as described in paragraph (f) of this section.
Irrevocable trust means a trust which cannot be revoked by its own terms or a trust deemed to be irrevocable under State law.