Revocable vs. Irrevocable Trust — Which One Does Your Montana Estate Plan Need?
One of the most common questions in estate planning comes down to two trust types that work very differently from each other.
A revocable trust lets you maintain full control of your assets during your lifetime. You can modify or dissolve it at any time, and when you pass away it transfers assets to your beneficiaries without going through probate. It's flexible and a common starting point for most Montana estate plans — but it does not protect assets from creditors or lawsuits.
An irrevocable trust requires giving up ownership and control of the assets once established. That's also what makes it powerful. Assets are generally shielded from creditors, removed from your taxable estate, and can support Medicaid planning after the look-back period.
Montana offers particularly favorable conditions for irrevocable trusts — including strong asset protection statutes and the ability to establish dynasty trusts lasting up to 1,000 years.
Many families use both trust types together as part of a broader plan. Either way, a pour-over will should accompany any trust to capture assets not yet transferred at the time of death.
Tanko Law helps Montana families in Kalispell and surrounding areas navigate estate planning decisions with clarity.
