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Irrevocable Living Trust Attorneys in Nashville

Protecting the Best Interests of Tennessee Families: (615) 933-2435

The Facts about Irrevocable Living Trusts…

It is a common misconception that irrevocable living trusts cannot be changed. While that is true of the irrevocable trusts created to avoid taxes (tax reduction or avoidance trusts), it is not true of all irrevocable trusts.

An irrevocable living trust is created for the benefit of yourself or others.  Once created, you as Grantor must give up your right to something. You may be prevented in your ability to control the trust or your access to your assets, but you get to determine to what extent.

How Debtor/Creditor Laws Affect You

Debtor/creditor law provides that whatever you are eligible to receive, your creditors are also able to get. There are known creditors (bank/credit card debt) and unknown potential creditors (unforeseen lawsuits, nursing home, and divorce). 

An income-only irrevocable living trust permits you to receive the income on your assets, but you must give up your right to your principal. In some irrevocable living trusts, you can retain the right to change who gets your assets during your life and after your death and maintain 100% control of your assets until your mental disability or death.

Tax Reduction & Avoidance Trusts

Tax reduction/avoidance trusts are more restrictive. Typically, you cannot retain any right to control or access any of the assets in an irrevocable tax reduction/avoidance trust.

There are many irrevocable living trusts that are quite flexible and grantor-friendly.  You should consult a qualified Nashville estate planning attorney to get counseling on all your options before creating an irrevocable living trust. 

Why Call Our Nashville Irrevocable Living Trust Lawyers?

  • Backed by 65+ Years of Combined Experience
  • A Reputation for Client-Centered Service
  • Aggressive Advocacy in Thousands of Cases
  • Proven History of Results Since 1990

Contact our Nashville estate planning lawyers at the Gordon Law Group, PLC to discuss various options that will best fit your family needs. Call (615) 933-2435. 

Contact Gordon Law Group for Tailored Legal Solutions

Our Nashville family lawyers are passionate about achieving results for our clients. We want to help you through whatever you are facing and provide you with the resources and tools necessary to overcome any obstacles you face.

Contact Gordon Law Group at (615) 933-2435 today to schedule an initial consultation.

Your Solution Starts with Gordon Law Group

Experienced Counsel

We possess over 65 years of experience in multiple fields of law

Aggressive Advocacy

We have a strong track record of utilizing the law to help our clients.

Ethical Practices

We strive to provide honest & sincere representation to each client.

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We believe that clear & candid communication with our clients is key.

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Call (615) 933-2435 to schedule a confidential consultation today.

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Gordon Law Group

Nashville Office:

(615) 933-2435

49 Music Square West

Suite 505  Nashville, TN  37203  

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South Carolina Office:

(864) 920-2796

330 E. Coffee St.

Greenville, SC 29601

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Gordon Law Group

49 Music Square West, Nashville, Tennessee 37203, United States

Tel (615) 933-2435 Fax (615) 321-9099