Jump to content
Sign in to follow this  

irrevocable trusts

Recommended Posts

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. 

Share this post

Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Sign in to follow this  

  • Create New...