My father had a GRIT. If I understand correctly, lineal descendants cannot be beneficiaries, is this correct? My father told me my siblings and myself would inherit the land placed in the GRIT, but perhaps he was misinformed or was lying. Seemingly, he was the grantor and trustee equally with...
In that you closed my other thread, I'll respond here.
Thank you for your response! While I detected a slight exasperation on your part in answering, you gave a piece of information that had yet been unavailable to me anywhere else. If it might help someone else in their quest, then I think...
Please forgive me if I shouldn't have started a new thread, but my focus has changed a bit since my last question. I'm inquiring only about Irrevocable Trusts.
I emailed the County Clerk and she sent back the deed stating the owner of the land in question is in my father's name as an...
Thank you for the response. Unfortunately you told me what I already suspected.
The county is so small there are no online searches available. I think I'll call and see if the clerk can help me out.
The land is not yet listed for sale, but I suppose if and when he does try to sell it, we...
My husband purchased a mobile home and placed it on my father's property with his permission. We were told the property was in an irrevocable trust with myself, my brother and sister being the 3 beneficiaries. We were not too concerned at the time and my father told me that at any time we...