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The main reasons for setting up an irrevocable trust are for estate and tax considerations.
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It includes locating and determining the value of the decedent�s assets,paying his final bills and taxes,then distributing the remainder of the estate to his rightful heirs or beneficiaries.
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Some assets are distributed to heirs by the court (probate assets) and some assets bypass the court process and go directly to your beneficiaries (non-probate assets) TRACK YOUR PROGRESS 24/7 Irvine Probate Law Collect money owed to the estate,such as outstanding paychecks and rents.
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