Page 25 - Ultimate Guide to Estate Planning Third Edition_Neat

assets, you are placing a lid on the bucket
which is taken off so that rain can go into the
bucket on rainy days yet the lid is placed back
on to avoid evaporation on sunny days. By
placing a faucet on the bottom of the bucket,
you are providing rules by which the faucet is
turned on and off for distributions to your
heirs.

The trust becomes irrevocable upon the
passing of the grantor because the grantor is
the only person who is able to effectively
modify the trust without judicial supervision.

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