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Revocable vs. Irrevocable Trusts There are two basic types of trusts revocable trusts and irrevocable trusts. Com/newsletterpreview. aspx newsletter wealthadvisor0003. 11/2/2007 designation for retirement plans and life insurance. Revocable Living Trusts As is discussed more below revocable trusts do not provide asset protection for the trust maker s. Thus assets transferred or funded to a revocable trust remain within the control of the trust maker the trust maker or trust makers if it is a...

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