Hillsboro Beaverton Employment Benefits Center. Residents in Beaverton, or, can call 503-526-2700, for immediate assistance with: or benefits, or State claims & Oregon unemployment insurance. Beaverton Office Phone Number: 503-526-2700. Fax (Beaverton Office): 503-526-2750 or (866) 345-1878.
This can be important if, for example, the child has a child with special needs for which special trust provisions, unanticipated by the creator of the dynasty trust, would be appropriate. Or perhaps the creator of the trust made no provision for a âblack sheepâ of the family who has now turned his or her life around.
Irrevocable trusts, unlike revocable trusts, are used as a way to avoid estate taxes. Once a settlor places assets into a trust they no longer become the property of the settlor. From that point on they are the property of the trustee for the benefit of the beneficiaries. As such, any amount that the settlor puts into the trust can not be used to calculate estate taxes. Irrevocable trusts are also a great way to avoid creditors. Just as in the estate tax example, the assets of the irrevocable trust are not the property of the settlor but of the trustee. This is distinguished from revocable trusts. In revocable trusts the settlor has the right to re-enter the trust and retrieve assets.