Legal Question in Real Estate Law in New York
Trusts
CAN AN IRREVOCABLE TRUST BE
CHANGED TO A REVOCABLE TRUST. ? REASON: I wish to obtain a mortage for home improvements - was denied because I have an irrevocable trust.
Asked on 3/26/07, 9:08 am
2 Answers from Attorneys
Charles Wolff
Charles Oliver Wolff, Esq.
Re: Trusts
Usually, this can be done as long as all of the creators of the trust are still alive and willing to do so. There may be other problems, though, and all of the facts need to be carefully looked at. You should consult an attorney.
Answered on 3/26/07, 9:53 am
Robert R. Groezinger
GroezingerLaw P.C.
Re: Trusts
Well, probably yes..but if the trsut was vreated to avoid the look back period for Medicare, them you are defeating the purpose.
Good Luck
RRG
Answered on 3/26/07, 12:39 pm
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