You’ve probably heard that a trust can help you avoid probate and protect your assets — but when it comes to choosing between a revocable and irrevocable trust, many people get stuck.
Here’s what you need to know about the difference—and how to decide which is right for you.
Revocable Trusts: Flexible and Practical
A revocable living trust is the most commonly used type of trust in Louisiana estate planning.
You can change or revoke it at any time while you’re alive and competent.
You can serve as your own trustee, maintaining full control.
Upon your death or incapacity, the successor trustee takes over without court involvement.
Benefits:
- Avoids succession (probate)
- Keeps things private
- Allows for flexible planning and updates
- Useful for blended families, incapacity planning, and straightforward asset transfers
Irrevocable Trusts: Locked In But Powerful
An irrevocable trust cannot be changed or revoked once established (with limited exceptions).
Why would someone want one? Because they offer:
- Creditor protection (in certain cases)
- Tax advantages for high-net-worth families
- Medicaid planning opportunities (by removing assets from your estate)
They require more planning and care — and you must give up control over the assets placed in the trust.
Which One Do You Need?
Most families start with a revocable living trust for simplicity and control.
If you’re doing asset protection, charitable giving, or Medicaid planning, an irrevocable trust may be better.
Louisiana-Specific Tip:
No matter which trust you choose, it must be properly drafted, executed, and funded (meaning your assets are retitled into the trust) to be effective under Louisiana law.
Let’s Build the Right Kind of Trust for You
We don’t believe in one-size-fits-all estate planning. We’ll help you decide which trust aligns with your goals — and make sure it’s done right.
Contact Oak Grove Estate Planning to explore your options with confidence.
