--- title: | Irrevocable Trusts description: Irrevocable Trusts | Chandler & Knowles CPAs is dedicated to serving our clients with an integrated approach to financial success for businesses, families and individuals. --- [![Chandler & Knowles, CPA](https://blog.chandlerknowlescpa.com/hubfs/Chandlerknowlescpa_January2018%20Theme/Images/chandler-knowles-logo-updated.png)](https://www.chandlerknowlescpa.com) - [Home](https://www.chandlerknowlescpa.com/) - [About](https://www.chandlerknowlescpa.com/about/) - [Case Studies](https://www.chandlerknowlescpa.com/case-studies/) - [Testimonials](https://www.chandlerknowlescpa.com/client-testimonials/) - [Services](https://www.chandlerknowlescpa.com/services/) - [Individual Tax Preparation](https://www.chandlerknowlescpa.com/services/tax-preparation/) - [Advanced Tax Planning](https://www.chandlerknowlescpa.com/services/advanced-tax-planning/) - [Financial Planning](https://www.chandlerknowlescpa.com/services/financial-planning/) - [Risk Assessment](https://www.chandlerknowlescpa.com/services/insurance-risk-assessment/) - 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[Contact](https://www.chandlerknowlescpa.com/contact-us/) # Financial Planning Insights ## [What Is A Trust?](https://blog.chandlerknowlescpa.com/what-is-a-trust) By [The Chandler & Knowles Team](https://blog.chandlerknowlescpa.com/author/the-chandler-knowles-team) | November 17, 2021 | [0](https://blog.chandlerknowlescpa.com/what-is-a-trust#comments-listing) [![](https://blog.chandlerknowlescpa.com/hubfs/2-Nov-15-2021-03-02-55-63-PM.png)](https://blog.chandlerknowlescpa.com/what-is-a-trust) A trust is a legal contract that plans for the distribution of an individual's assets upon their death. The document states that a trustee will hold all property until a given point in time. Unlike a will, a trust won't be subject to probate. This ensures that the [estate](https://blog.chandlerknowlescpa.com/benefits-of-estate-planning)'s closing is quicker, there are no court fees, and results in reduced estate.. [Read More](https://blog.chandlerknowlescpa.com/what-is-a-trust) ## [Types of Irrevocable Trusts](https://blog.chandlerknowlescpa.com/types-of-irrevocable-trusts) By [The Chandler & Knowles Team](https://blog.chandlerknowlescpa.com/author/the-chandler-knowles-team) | September 29, 2016 | [0](https://blog.chandlerknowlescpa.com/types-of-irrevocable-trusts#comments-listing) [![](https://blog.chandlerknowlescpa.com/hubfs/Imported_Blog_Media/irrevocable_trusts-300x189.jpg)](https://blog.chandlerknowlescpa.com/types-of-irrevocable-trusts) Trusts fall into two seemingly simple categories: revocable or irrevocable. However, things get more complicated from there. One type of [irrevocable trust](https://www.chandlerknowlescpa.com/services/advanced-tax-planning/irrevocable-trust/) is a Qualified Personal Residence Trust. This is useful because the value of the home is not counted as part of your estate when it is in this trust. Timing is crucial when using a QPRT to pass.. [Read More](https://blog.chandlerknowlescpa.com/types-of-irrevocable-trusts) ## [Irrevocable Trust Benefits](https://blog.chandlerknowlescpa.com/irrevocable-trust-benefits) By [The Chandler & Knowles Team](https://blog.chandlerknowlescpa.com/author/the-chandler-knowles-team) | June 10, 2016 | [0](https://blog.chandlerknowlescpa.com/irrevocable-trust-benefits#comments-listing) [![irrevocable trusts](https://blog.chandlerknowlescpa.com/hubfs/Imported_Blog_Media/irrevocable-trust-services-300x200.jpg)](https://blog.chandlerknowlescpa.com/irrevocable-trust-benefits) First off, you may be wondering what an [irrevocable trust](https://blog.chandlerknowlescpa.com/types-of-irrevocable-trusts) is; or you may be unfamiliar with trusts in general and need to know more before considering one. Essentially, a trust is a legal arrangement that provides for the ownership, management, and distribution of your property for the rest of your life, as well as after you are gone. [Read More](https://blog.chandlerknowlescpa.com/irrevocable-trust-benefits) ### Recent Posts ### Subscribe to Our Blog #### About Chandler & Knowles CPAs: Chandler & Knowles CPAs is dedicated to serving our clients with an integrated approach to financial success for businesses, families and individuals. Our knowledgable team is committed to providing you with the most detailed information to answer your biggest financial questions and to help make your life less taxing. Learn more about achieving financial success by reading our blog! ### Recent Posts Chandler & Knowles CPAs 7370 Hawk Rd Flower Mound, TX 75022 (817) 369-3681 Hours of Operation: Monday - Friday 8:30 a.m. – 4:00 p.m. Saturday & Sunday: Closed Other times Available by Appointment ![](https://px.ads.linkedin.com/collect/?pid=3265964&fmt=gif) ![](https://px.ads.linkedin.com/collect/?pid=3265964&fmt=gif)