A grantor, who transfers assets to an Irrevocable Trust, effectively removes his or her right of ownership to the assets. This trust cannot be changed or terminated without the permission of the beneficiaries. The benefit of this type of trust is that it can effectively remove assets from the grantorís taxable estate. The use of Irrevocable Trusts involves a multitude of sophisticated and complex tax rules, so let M&P work with you and your tax planning professional to see if this is a good option.
Securities, with the exception of Brokerage Certificates of Deposit (1) are not bank deposits; (2) are not insured or guaranteed by the FDIC or any other government agency; (3) are not obligations or, guaranteed by Merchants and Planters Bank and (4) involve investment risks, including potential for fluctuation in investment return and the potential loss of principal.