Living trusts tend to come in two basic flavors: revocable and irrevocable. Most clients will instinctively favor the revocable version. After all, why should they want to put their money into something they can never change, when they could put it into something they retain control over — and can even cancel altogether — instead?
Source: Revocable Trusts vs. Irrevocable Trusts: Which Trust Is Right for Your Clients? | ThinkAdvisor
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