Keyword Search Result: irrevocable trust

Can an irrevocable trust be revoked?

The Facts: I created an irrevocable trust a number of years ago. However, my circumstances have changed dramatically and the trust no longer suits my needs. I want to revoke the trust and sell the assets that are in the trust. The Questions: Although the trust is irrevocable, is there a way it can be […]

Some Implications of a Life Estate

The Facts: My father has decided to gift his house to me and my brother and to retain a life estate for himself. This is part of his Medicaid planning. The Question: What are the advantages and disadvantages of making this transfer? The Answer: The advantages of putting the house in your names now is […]

Estate Planning With a Trust and Life Estate

The Facts: My father is planning on putting his house into an irrevocable trust and naming me as trustee. He will be naming my sister and me as beneficiaries of the trust. The Questions: Can my father sell his house once it is in the trust? If my father goes into a nursing home, can […]

Should the House be Put in an Irrevocable Trust?

The Facts: My elderly father is putting his house into an irrevocable trust and naming me and my brother as beneficiaries of the trust. The Questions: If my father decides to move out of his house, will we be able to sell the house while my father is still alive? Would it be better if my father […]