Legal Question in Elder Law in New Hampshire

Re: Irrevocable Trust

I would need a great deal more information to address your question. However, in general terms, the transfer of property into an irrevocable trust involves both legal and tax issues. I do not know if you consulted with your tax advisor. Often there are advantages in saving current taxes with a resulting tax imposed further down the road. The decision is extremely difficult as there is no way to know what changes in tax law might impact your decision. Predicting the future, especially with regard to taxes is often similar to using a crystal ball. You may or may not have saved current taxes in order to accept a possible risk of future taxes.

As noted, this is a general response based upon very limited information and these comments will be impacted by additional information.