As the trust is irrevocable, the grantor need to stop trying possession with the plan. After the insured (grantor) dies, the trustee collects the proceeds and distributes them towards the beneficiaries as instructed. A living trust is revocable, in order to alter or revoke it during your lifetime. When you https://trust-or-estate-planning57912.blogvivi.com/38041008/legal-and-general-unit-trusts-secrets