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Investors & landlords
With that said can you clarify and confirm if the trustee and beneficiary here, is allowed to gift money to the same trust, as you described in your initial answer.
I think I was misquoted because you described a situation which might involve a beneficiary adding money to the trust and that cannot be a gift in any sense.......you can't give yourself a gift.
Whether a trustee or beneficiary can add funds to an irrevocable trust set up by another party would depend on the terms of the trust.....and it's either likely that can't be done or would not be advisable.
You need to find a local attorney who can review the terms of the trust.
‎April 26, 2024
10:28 AM