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sydney700

irrevocable trusts

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My father created an Irrevocable Trust by his Tax Lawyer. His house and annuity are in the Irrevocable

Trust. Can he sell his house if it is an Irrevocable Trust?

 

He cannot sell the house once it is placed in the trust because he does not own the property any more. The trust owns the property. The trustee of the trust may do that if the trust document gives the trustee that power. But before the property is sold, he should check with his tax lawyer to make sure that the sale won't screw up the tax plan that prompted creating the trust in the first place. 

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