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Revocable & Irrevocable Trusts

Making the most of your life and your money is easier when you rely on the experts at Bank of Ann Arbor. The personal attention you receive will help you grow and protect your wealth, giving you peace of mind that your wishes will be carried out.


A trust which allows you to maintain control and privacy over your assets, while ensuring that if your circumstances change at any time you may change the terms of your trust.

A key feature of a revocable trust is that you do not lose control. If at any time your personal circumstances change, you may change the terms of your trust. The most important benefits are:

• Maintain control over your assets yet have professional money management and advice.
• May change the beneficiaries of your trust.
• May change the trustee of your trust.
• Avoid probate proceedings completely.
• Peace of mind that your assets will be handled professionally.
• Privacy of your financial affairs is maintained.

You should consider a revocable trust if you are:

• A professional with a young family.
• Retired and looking to care for yourself, your spouse and ultimately your children.
• Concerned with maintaining financial independence in the event of a disability or have a family member with a disability.
• Seeking help on investment decisions.
• Receiving a financial settlement or inheritance.
• Not financially oriented.
• Unsure about the maturity or financial experience of family members.

An irrevocable trust provides ongoing professional money management and caring trust administration to your beneficiaries. The important benefits are:

• Asset transfers during life may provide estate tax savings.
• Wealth transfer to next generation.
• Provisions for creditor and asset protection for your beneficiaries and the risks they encounter.
• Fulfill charitable gifting objectives while providing a current income stream to you.
• Protect your estate from spend thrift concerns.
• Provide long term financial protection to beneficiaries with mental or physical disabilities.

You should consider establishing an irrevocable trust during your lifetime if you are:

• Looking to reduce estate taxes.
• Looking to provide financial security for a family member in need of special assistance.
• Charitably inclined.
• Concerned about an heir's financial responsibility.
• Concerned about creditor protection or are in a high-risk business.

In all circumstances, prior to the establishment of a trust, you should consult with your accountant and attorney.


We can provide you with the special trust you need for your family's situation including marital trusts, special needs trusts and many more. Just ask and find out how we can help. If you already have an attorney, we generally employ that attorney to advise and review as needed.