QUESTION
Can an irrevocable trust be changed
Asked on Dec 13th, 2016 on Trusts and Estates - New Jersey
More details to this question:
An elderly woman put her house in an irrevocable trust. This is her only asset. She needs money for a nursing home. Can she change the trust? Can she change the beneficiary?
1 ANSWER
2 Awards
No - an irrevocable trust cannot be changed. That's the very definition of "irrevocable". This is why I caution people about getting these types of trusts. It may be possible to sell the existing house, and buy something smaller, and therefore free up some funds for care.
Answered on Dec 14th, 2016 at 9:48 AM
Diana L. Anderson, Certified Elder Law Attorney This response is not legal advice and does not establish any form of attorney/client relationship