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2. Will Terminating an Irrevocable Trust Affect My Taxes? - AOL

   www.aol.com/terminating-irrevocable-trust-affect...

   An irrevocable trust is a legal entity that cannot be altered, amended or revoked after its creation. Irrevocable trusts are typically established to protect assets from creditors, benefit the ...

3. United States trust law - Wikipedia

   en.wikipedia.org/wiki/United_States_trust_law

   Fiduciary tax law is both federal (see the Internal Revenue Code) and state. For Federal income tax purposes in the United States, there are several kinds of trusts: grantor trusts whose tax consequences flow directly to the settlor's Form 1040 (U.S. Individual Income Tax Return) and state return, simple trusts in which all the income created ...

4. Estates and Wills: Should You Set Up a Revocable or ... - AOL

   www.aol.com/estates-wills-set-revocable...

   Irrevocable trusts cannot be changed easily by any party, including the grantor. You can’t cancel the trust or remove funds from it. You also can’t change the trustee, successor trustee, or ...

5. Revocable trust vs. irrevocable trust: key differences - AOL

   www.aol.com/finance/revocable-trust-vs...

   However, a revocable trust can provide language to create sub-trusts upon the death of a grantor (e.g. credit shelter or other irrevocable trusts) that can preserve or reduce future estate tax ...

6. Illinois Department of Revenue - Wikipedia

   en.wikipedia.org/wiki/Illinois_Department_of_Revenue

   The Illinois Department of Revenue (IDOR) is the code department [1] [2] of the Illinois state government that collects state taxes, operates the state lottery, oversees the state's casino industry, oversees the state's thoroughbred and harness horse racing industries, and regulates the distribution of alcoholic beverages throughout Illinois, including beer, wine, and liquor. [3]

7. Asset-protection trust - Wikipedia

   en.wikipedia.org/wiki/Asset-protection_trust

   Most asset protection trusts established by U.S. settlors are considered "grantor trusts" under U.S. income tax law, meaning that all income of the trust is reportable on the grantor's (i.e., the settlor's) individual income tax return. Asset-protection trusts do not, in and of themselves, offer any tax advantages under U.S. income tax law.