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Belinda Tung posted an update in the group
Law & Sovereignty 3 months agoCan someone in here share about irrevocable trusts? Basically, what is the difference between revocable and irrevocable and why would we choose one over the other?
maryschurr and Jon1 Comment-
Revocable means the Grantor has the power to revoke the Assignment of Assets at any time, or for specific reasons.
Irrevocable means that the Grantor has no powers to revoke the Trust, and that it is essentially in the Trust and the Trustee’s power exclusively from then onward, no matter what.
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Mike replied to the discussion Law & Sovereignty in the forum Law & Sovereignty 4 months ago
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Eliza replied to the discussion Law & Sovereignty in the forum Law & Sovereignty 4 months ago
Agree with Mike’s comment…Dorothy, that was just barely mentioned as a possibility during was sort of an infomercial / fellowship meeting. My situation is particular because the mortgage is not in my name, the bank never settled with the estate but the house IS in my name…
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Eliza replied to the discussion Law & Sovereignty in the forum Law & Sovereignty 4 months ago
Thank you, Benjamin. I’ve taken the Equity passage and was impressed with Phil. Perhaps the issue is that even after the informational meetings, I can’t quite picture what the trifecta pathway syllabus is or who even is the professor/leader/TA sorta of roles. I will re-listen the fellowship call (if I can find it) this weekend. I will renew…
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Eliza replied to the discussion Law & Sovereignty in the forum Law & Sovereignty 4 months ago
No need to apologize! Keep going with your missions! You’re on fire! 🔥
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Mike replied to the discussion Law & Sovereignty in the forum Law & Sovereignty 4 months ago
❤️❤️❤️
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Mike replied to the discussion Law & Sovereignty in the forum Law & Sovereignty 4 months ago
I’ve been too busy with AV biz and life stuff to focus on this of late so Matt has taken up the torch to complete the Trifecta course for M&S and get us finalized with the private trust, ministry & PMA. Our goal is to have all of this done by start of 2026. As for the call, I’m honestly tapped out at this time sorry.
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Mike replied to the discussion Law & Sovereignty in the forum Law & Sovereignty 4 months ago
That’s the black belt of discharge, you don’t just walk into that. I only know of a few people who have successfully done this in the past and from what I’ve been hearing of late, it’s become very very difficult to do these days thanks to the cat and mouse games being played by the financial institutions that have become hip to this reality.
Jennifer -
Dorothy replied to the discussion Law & Sovereignty in the forum Law & Sovereignty 4 months ago
Wondering what processes u were able to complete and how they benefitted you.
Thanks
Dorothy
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