Irrevocable Trust Income Options

Summary

In an irrevocable trust, the grantor usually cannot receive income directly from the trust, as the income is distributed to the beneficiaries. Alternatives for generating income without owning assets include life interests, usufructs, and annuities. A revocable living trust allows the grantor to retain control and receive income, but it doesnt offer the same protection as an irrevocable trust. Consider consulting with a legal professional for personalized advice on setting up trusts and exploring income options.

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any other way of getting income but not owning assets?
One way to generate income without owning assets is through a life interest or usufruct. This allows you to use and benefit from a property without owning it. Another option is annuities, where you receive regular payments from an insurance company in exchange for a lump sum.
Do you need more information on any of these options?
any other way via trusts
You might consider setting up a revocable living trust. With this type of trust, you retain control over the assets and can receive income from them during your lifetime. However, this doesn't offer the same level of protection as an irrevocable trust. Would you like details on how to set up a revocable living trust?