Hi All,My family has an irrevocable trust that we established last year that has a savings account established with it and we want to use the money in the trust to purchase some property as an investment and I guess I'm just looking for some advice as the best way to go about doing that.Additionally, what kind of professional would it be best that we discuss our options with, RE Attorney, Tax Attorney, CPA...??

UTMAs transfer upon adulthood, but an irrevocable trust could limit access until the grandkid is a certain age, or even make distributions or termination discretionary.

The cashier's check is made out to a trust (not a land trust, but irrevocable trust) - pick a name for the trust.

Hello,I am the co-trustee and co-beneficiary of an irrevocable trust that my sister and I inherited when my mother passed.

I have all three, Irrevocable Living Trust, an LLC, and an umbrella policy, they protect me in different ways.

The property in Manhattan was transferred from the owner to the irrevocable trust on behalf of the owner.

However, depending on their Net worth - they may be required to pay an estate tax.The wealthy use trusts for various reasons.One reason is to decrease the tax liability of the "estate tax".The wealthy are required to pay an estate tax if their net worth(or gifting during their life) is above a certain threshold at passing(5.45Million in 2016) .The wealthy do this by transferring assets to a trust and only including in their estate the value of the assets transferred to the trust at the date of transfer.Example. if your parents transferred 5.45 million dollars of assets to a trust and the value of the assets increased to 10million; they would only include the 5.45 in the estate tax calculation.You need to make sure the trust is set up as an irrevocable trust(contact a lawyer on the type of trust that needs to be set up).Another talking point is that assets in a trust are at the discretion of the trustee until the assets are transferred to the beneficiary.

Such as an irrevocable trust some insurance wont accept those.

Furthermore I have the following included in my agreement to purchase.V.OCCUPANCY: Exclusive irrevocable occupancy shall be delivered to Buyer, Buyers Assignees, or Buyers Agents at 5:00‭ PM on the date this agreement is signed by seller, unless a rescission period is granted to the seller according to paragraph XLIX.

Irrevocably.