Revocable vs. irrevocable trust
A revocable trust keeps you in control during your lifetime and helps your family avoid probate at death. An irrevocable trust gives up direct control in exchange for benefits a revocable trust can’t provide — asset protection, Medicaid eligibility, and tax planning.
These are the questions that matter most when you’re choosing between a revocable and irrevocable trust.
What’s the difference between a revocable and irrevocable trust?
The difference comes down to control. A revocable trust keeps it; an irrevocable trust gives it up at funding.
| What it does | Revocable trust | Irrevocable trust |
|---|---|---|
| You stay in full control of the assets. | ||
| Can be changed or revoked at any time. | ||
| Assets remain part of your estate. | ||
| No asset protection during life. | ||
| You give up direct control of the assets at funding. | ||
| Generally cannot be changed once funded. | ||
| Assets can sit outside your estate. | ||
| Designed to help shield assets from creditors and Medicaid spend-down. |
What can a revocable trust do for me?
A revocable trust keeps you in control during your lifetime and gives your family a clean, private way to pass assets at your death.
- Keeps you in control of your assets during your lifetime.
- Helps your family avoid probate at your death.
- Helps you plan for incapacity through a successor trustee.
- Helps keep your affairs private — no public probate filing.
What can an irrevocable trust do for me?
An irrevocable trust holds assets outside your estate — opening up planning options a revocable trust simply can’t provide.
- Holds assets outside Medicaid’s count (MAPT).
- Designed to help shield assets from many creditors (DAPT).
- Keeps life insurance outside the taxable estate (ILIT).
- Moves wealth between generations (Dynasty, SLAT, GRAT).
Which one is right for my situation?
Most Alabama families start with a revocable trust as the foundation. An irrevocable trust is added when there’s a specific planning goal a revocable trust can’t accomplish.
A 30-second guided quiz. Get a personal read on which structure likely fits.
How Brent helps you
- Walks you through which trust type fits your specific goals
- Drafts a revocable trust as the foundation when that’s what fits
- Adds an irrevocable structure (MAPT, DAPT, ILIT, SLAT, Dynasty) only when there’s a specific need
- Coordinates the two so they work together if your plan needs both
“Brent really took his time explaining the trust process in detail and made sure my husband and myself felt comfortable with each item before proceeding.”
— P.C.
This testimonial reflects one client’s personal experience. It does not guarantee or predict the same or similar results for any other person.