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Trusts & Estates Law/Sell my house to my own trust

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Question
I have just received a trust. There is enough to pay off my mortgage, which the interest rate is more than the interest gained from the trust. So it seems logical to pay off the mortgage. Problem is that there is a 3 year lock out on the trust.

So can I sell my house to my trust, and stop making payments to the bank?

Answer
Sorry for the delay.  First tell me what is "three year lock out"?

I'm not sure what you mean.  You should be able to sell you house to the trust but you'd have to carefully review the trust.

Please reply back so I can give you a complete answer.

David Disraeli

Trusts & Estates Law

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David Disraeli

Expertise

I can answer general questions about estate planning and trusts. I can also answer questions about estate tax reduction and advanced charitable giving, family partnerships and asset protection. I may have already answered your question here: www.lifeplanblog.com or here www.pcfo.net

Experience

I have worked for 24 years with clients and their attorneys to formulate estate plans to meet client goals. I have found many mistakes made by client attorneys and were able to have them corrected. I focus on making sure that beneficiaries are protected from current or future spouses and lawsuits so the wealth stays in the family. I have also published a book on Aging Parents which can be found on Amazon https://www.amazon.com/dp/B003VP9WTG

Organizations
President and founder of The Personal CFO Inc.

Publications
www.pcfo.net www.lifeplanblog.com

Education/Credentials
Certified Financial Planner 1994

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