Sounds like this person is dealing with a now irrevocable trust (started as grantor revocable trust) — would now be irrevocable if parent passed. Sounds like they are the trustee as well as a current beneficiary.
To make it their own grantor trust (revocable), they would have to transfer all of the current irrevocable trust’s assets into the new grantor trust. An expensive move.
If the current irrevocable trust cannot afford the upkeep of its asset(s), the trustee can pay out of pocket and get paid back by the trust at a later date once funds are available (presumable from selling an asset).
This is to the best of my understanding.
