Irrevocable Trusts

You have spent years building a successful career, growing a business, and accumulating assets. The idea of losing a significant portion of that wealth to estate taxes, unexpected lawsuits, or nursing home costs is a heavy burden to carry.

While a standard will or a revocable living trust provides a great foundation, they do not offer aggressive protection against creditors or estate taxes. If you are a high-net-worth individual, a business owner, or someone concerned about future liabilities, standard planning might leave your estate vulnerable.

You need a strategy that actively defends your wealth.

At The Law Firm of Peter P. McFadden PC, we design customized irrevocable trusts for Washington residents. We take complex tax codes and legal structures and translate them into a straightforward, bulletproof plan for your family's financial security.

Bulletproof Protection for Your Legacy

Creating an irrevocable trust involves permanently transferring assets out of your direct ownership and into the trust. While you give up some control, the transformation in your financial security is immense.

When we structure an irrevocable trust for you, your assets are no longer legally yours—meaning they cannot be touched by your creditors or heavily taxed by the government.

• Shield against creditors: Because the trust owns the assets, they are generally protected from lawsuits, bankruptcy, and even unexpected tech layoffs or business liabilities.
• Minimize estate taxes: By removing high-value assets from your taxable estate, you drastically reduce the tax burden on your heirs, allowing them to inherit more of what you built.
• Plan for long-term care: Certain irrevocable trusts can protect your home and life savings from being drained by nursing home costs, helping you qualify for Medicaid assistance when you need it.
• Bypass the courts: Just like living trusts, irrevocable trusts completely avoid the time and expense of the public probate process.

Tailored to Your Specific Financial Landscape

An irrevocable trust is a serious commitment, and it must be drafted with absolute precision. As your dedicated Washington estate planning attorney, we do not offer one-size-fits-all documents. We look at your complete financial picture.

Whether you need to protect business assets or preserve family property for future generations, we ensure your trust operates flawlessly within the confines of Washington law.

Frequently Asked Questions About Irrevocable Trusts

What is the difference between a revocable and irrevocable trust?

A revocable trust can be altered or canceled by you at any time, but it does not protect your assets from creditors or estate taxes. An irrevocable trust generally cannot be easily changed or canceled once signed, but in exchange for giving up that control, you gain powerful tax advantages and creditor protection.

Can an irrevocable trust ever be changed?

While they are designed to be permanent, Washington state law does provide certain, very narrow avenues for modifying an irrevocable trust under specific circumstances (such as through a nonjudicial binding agreement or decanting). However, they should always be drafted with the intention of being permanent.

Do I lose all access to the money in an irrevocable trust?

Not necessarily. While you cannot be the primary beneficiary of the principal in most asset-protection trusts, you can often structure the trust so that you receive the income generated by the assets (like rental income or dividends) while still protecting the underlying property.

What areas do you serve for trust creation?

Our physical office is based in Monroe, WA, and we work extensively with families across Snohomish, King, Pierce, and Skagit Counties. Because we are a licensed Washington law firm, we can help draft trusts for residents in all Washington state counties.

If you do not see your specific city on our service area pages, please contact us to see how we can assist you.

How do I know if an irrevocable trust is right for me?

The best way to find out is to have a conversation.

Contact our firm to schedule a consultation. We will evaluate your net worth, your family goals, and your liability risks to determine if an irrevocable trust is the right shield for your legacy.