Self-settled Trust:In some states (including Nevada), you can lawfully create what is known as a “Self- settled Irrevocable Trust”, which allows the Settlor to also be a Beneficiary of the trust. 

You would have to begin looking at irrevocable trusts or transferring the beneficial interest of the trust, which would violate the due on sale clause, among other issues.

I understand that choices are not irrevocable and I could later switch from the one to the other, but to you REI out there, what do you think would be the wiser choice: 1) work in a hot real estate market for a successful local RE brokerage, or 2) work in the trades getting my hands dirty and learning this side of the business? 

I’ve heard a lot about the lifetime gift allowance and also about irrevocable trusts but would like to hear the opinion of some people more experienced with this type of situation.Any help anyone can give us would be much appreciated.Bob

A First-Refusal Right Is Not an Option Although often associated with options, the first-refusal right is not a true option.An option is an irrevocable offer that gives its holder a unilateral right to trigger the purchase at the option price during the option period.In contrast, a first-refusal right does not give its holder the power to compel an unwilling owner to sell.

My wife and I are currently trying to buy my fathers house that is in a IR trust.  It goes like this.My wife is buying the property solely due to my credit situation not being so great.I am listed along with my two ot...

You should also ask about a an Irrevocable Trust, naming you as Trustee, this would allow you to direct the property matters for her.

It is currently owned in an irrevocable trust, with my mother inlaw and aunt inlaw as trustees and beneficiaries (I presume this the correct structure).

I recently went to a RE conference and there was a company there called Platinum Trust Group (platinumtrustgroup. com) that told us about proprietary irrevocable spendthrift trust. 

I recently went to a RE conference and there was a company there called Platinum Trust Group (platinumtrustgroup. com) that told us about proprietary irrevocable spendthrift trust.