by Koolaid Jones October 1, 2018
Get the irrevesable mug.by gr4mm4rg33k December 10, 2010
Get the irrevocable mug.Related Words
Controversial French flick released in 2002, directed by Gaspar Noe. Won the "Bronze Horse" award at the Stockholm Film Festival and was nominated for the Palme d'Or at Cannes. Also one of the most difficult movies to watch, due to a 9-minute rape scene and a guy getting his face caved in with a fire-extinguisher to some really creepy-ass music.
by Brian Chidueme October 17, 2007
Get the Irreversible mug.A consequence that cannot be reversed.
Some consequences are evitable, such as preventing or reducing the extent of an injury by wearing a seat-belt, or preventing a pregnancy by using a condom.
However, other consequences are inevitable, such as being disliked after saying something offensive.
And an irreversible consequence is one no one can go back in time and prevent from taking place because the action which produced it was executed.
The only way to prevent any type of consequence is by not executing an action (known to produce certain types of consequences).
Nonetheless, not doing anything might also generate some type of foreseeable or unforeseeable consequence.
However, other consequences are inevitable, such as being disliked after saying something offensive.
And an irreversible consequence is one no one can go back in time and prevent from taking place because the action which produced it was executed.
The only way to prevent any type of consequence is by not executing an action (known to produce certain types of consequences).
Nonetheless, not doing anything might also generate some type of foreseeable or unforeseeable consequence.
by but for April 21, 2018
Get the irreversible consequence mug.Person 1: I just burnt my old diary!
Person 2: Are you sure you did the right thing? It's irreversible, you know...
Person 2: Are you sure you did the right thing? It's irreversible, you know...
by Dina June 16, 2006
Get the Irreversible mug.Used primarily for estate creation, estate preservation, and estate conservation. Basically, a irrevocable trust is drafted (meaning drafted, designed, and created by a licensed JD professional aka a lawyer and/or attorney) to hold a LARGE life insurance policy on the insured (usually a parent(s), or the spouses parent(s), and upon materialization of the death certificate, the ILIT receives the death benefit insurance proceeds tax free!!! Yes, that's right, tax free! Most the time insurance proceeds are tax free, but there's the exemption limit, so even if the death benefit is WELL OVER the current exemption limit, the entire thing is passed tax free to the trust. The trust itself then has beneficiaries who receive the proceeds in accordance with the trusts design and instructions.
Irrevocable Life Insurance Trust , ILIT --- Basically, a child (grown up in this example) decides he'd/she'd like to after college, get a good job, and use his/her income (or some of it) to purchase a LARGE life insurance policy on his/her parents, and place it in a Irrevocable Life Insurance Trust, ILIT. Then upon materialization of the death certificate, the child is then passed tax free TONS of dinero! Then the child can take it easy, retire, and live off of e.g investments of any kind, perhaps treasury inflation protected securities.
by Andrew G. Bernhardt October 18, 2008
Get the [Irrevocable Life Insurance Trust] , [ILIT] mug.1. Unalterable; unable to be undone
2. That word on the back of the first Twilight novel that nobody knows how to pronounce, or is really sure of what it means
2. That word on the back of the first Twilight novel that nobody knows how to pronounce, or is really sure of what it means
Guy 1: Dude, Jessica told me her love for me is i-re-VO-cable?
Guy 2: She's been reading Twilight again...get out while you can
Guy 2: She's been reading Twilight again...get out while you can
by cannonproof25 January 11, 2011
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