sampsonpost
Junior Member
What is the name of your state (only U.S. law)? Michigan
Helping my aging Father prep for a Revocable Trust.
His Mother recently passed. Within HER Trust (currently undergoing dissolution), a condo was jointly left to my Father and another sibling. This sibling would like us to buy out her interest. My Father is hesitant, due to baseline cost and the tax burden that will be assumed.
Under the assumption that he decides NO, HE WILL NOT BUY HER 50% interest in the property, can his 50% ownership in the property be placed within HIS trust?
Thank you.
Helping my aging Father prep for a Revocable Trust.
His Mother recently passed. Within HER Trust (currently undergoing dissolution), a condo was jointly left to my Father and another sibling. This sibling would like us to buy out her interest. My Father is hesitant, due to baseline cost and the tax burden that will be assumed.
Under the assumption that he decides NO, HE WILL NOT BUY HER 50% interest in the property, can his 50% ownership in the property be placed within HIS trust?
Thank you.