Glossary · Trusts and Deeds
Irrevocable Trust
A trust that generally cannot be changed once created, used for asset protection and tax planning.
An irrevocable trust is one you generally cannot amend or revoke after it is signed and funded. By giving up control, you also move the assets out of your own estate, which is what makes the planning work.
People use irrevocable trusts for specific goals: protecting assets from future creditors, qualifying for Medicaid long-term care benefits, holding life insurance outside the taxable estate, or providing for a beneficiary with special needs without losing benefits.
The tradeoff is flexibility. Because the terms are fixed and the assets are no longer fully yours, irrevocable trusts call for careful drafting and a clear, long-term reason to use one.
In Florida
Florida families most often see irrevocable trusts in Medicaid planning and special needs planning, which are detail-heavy, board-certified areas. The Kogan Firm handles core estate planning on a flat fee and refers out high-complexity Medicaid and tax matters when that serves the client better.
Common questions
Can an irrevocable trust ever be changed?
Sometimes, through limited tools such as judicial modification or decanting, but you should assume the terms are fixed when you create it.
Related terms
Paul Kogan
Fort Lauderdale Litigation Attorney, The Kogan Firm, P.A.
- 17+ years
- Florida Bar
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Estate Planning and Probate
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This page is general information about Irrevocable Trust under Florida law and does not constitute legal advice. Every family and estate is different.