ILAttorney1
Junior Member
What is the name of your state? IL
I want to sell real estate. To avoid tax I plan to set up a charitable remainder trust. As of now, there is no contract for sale and the trust has not been set up. Is it possible to enter into a contract in my name for sale of the property, and then assign the contract to the trust, or does the trust have to be set up first?
Any thoughts are apprecited.
Thanks
I want to sell real estate. To avoid tax I plan to set up a charitable remainder trust. As of now, there is no contract for sale and the trust has not been set up. Is it possible to enter into a contract in my name for sale of the property, and then assign the contract to the trust, or does the trust have to be set up first?
Any thoughts are apprecited.
Thanks