Even proper asset protection land trusts are designed to be irrevocable and turn control over to a trustee.

I remember from my old reia meetings they were pro irrevocable trusts.

If your mom's IRA were to lend you money, and the IRS were to discover the prohibited transaction, you're mom's ENTIRE IRA, would be immediately and irrevocably distributed.

Medicaid might even put a lien on the home until she paid an amount equal to the value of the home.By all means, speak to an elder care attorney and explore how to use an irrevocable trust to conserve your "inheritance" and also preserve the basis step up and all the tax advantages of inheritance.

You have an irrevocable option to purchase that property from the eat at a set price so you then complete your 1031 exchange by "buying" the property that the eat is holding for you.

Here is my situation:In September of 2014 my parents made me the beneficiary and Trustee of an Irrevocable Trust.

Such powers could also be vested in an LLC on an irrevocable basis.

Just don't sell for more than the exempted amounts and allow the kids to sell the property, transfer before the 7 or 5 year (varies by state) look back to an irrevocable trust or heirs.

We try not to use CRT or Irrevocable Trusts so we can keep our clients in control of their assets and capital.We will need to know more about your specific need

The beneficiary is a WY family trust all the trusts are grantor irrevocable trusts and have EINs.