In which of the following do you no longer own the assets of the trust?

Name: In which of the following do you no longer own the assets of the trust?
Brand: Quizplus
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Question

Quizplus · Accepted Answer

In an irrevocable living trust, the assets are transferred out of your ownership and control, and you cannot modify or revoke the trust without the consent of the beneficiaries. Therefore, once you establish an irrevocable trust, you do not own the assets anymore.

In Which of the Following Do You No Longer Own