What Is an Irrevocable Living Trust?

An irrevocable trust is a symmetry of "revocable trust". The trust has no revocation clause in the trust certificate and the property trustee has no trust revocation right. Such trusts will only be destroyed on the basis of the application of the client and all beneficiaries and the court's judgment if the trust intent has been realized or impossible, and no trust termination will occur. The irrevocable trust is also called "full trust" in theory, which highlights the characteristics of the trust relationship in which "legal ownership" and "equity ownership" coexist. ^[1]

Irrevocable trust

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An irrevocable trust is a symmetry of "revocable trust". The trust has no revocation clause in the trust certificate and the property trustee has no trust revocation right. Such trusts will only be destroyed on the basis of the application of the client and all beneficiaries and the court's judgment if the trust intent has been realized or impossible, and no trust termination will occur. The irrevocable trust is also called "full trust" in theory, which highlights the characteristics of the trust relationship in which "legal ownership" and "equity ownership" coexist. ^[1]

Irrevocable trust

The "revocable trust" symmetry. There is no revocation clause in the trust certificate, so the property trustee does not have the trust to rescind the trust. An irrevocable trust is destroyed only on the basis of the application of the client and all beneficiaries and a court decision if the intention of the trust has been realized or impossible, and no trust termination issue occurs. An irrevocable trust is also called a "full trust" in theory, which highlights the characteristics of the trust relationship in which "legal ownership" and "equity ownership" coexist. See [trust], [revocable trust].