Property Ownership
What is an 'irrevocable trust' and how does it affect Delaware real estate ownership?
AA trust that cannot be changed after establishment; assets are permanently transferred out of the grantor's estate for tax and asset protection purposes✓ Correct
BAny trust created by court order
CA trust where the trustee's decisions are irrevocable
DA trust that transfers property only after the grantor's death
Explanation
An irrevocable trust cannot be modified or revoked after establishment. Assets transferred to an irrevocable trust are removed from the grantor's taxable estate, which may provide estate tax benefits and asset protection but means the grantor loses control over the assets.
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