What is the difference between a revocable and irrevocable trust?

As the names suggest, the main difference is that you can revoke a revocable trust but not an irrevocable one. Whether a trust is revocable or irrevocable will depend upon the type of trust and your purpose in setting it up. If you have questions about which type might work best for you, speak with a trust lawyer in Manhattan today at Chaves Perlowitz Luftig LLP.