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Irrevocable Trust as grantor trustee and beneficiary?

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Answer:

You cannot have the same person as grantor, trustee and beneficiary in any trust. There is no trust created in such a set up. The grantor in an irrevocable trust cannot be the trustee. The property in an irrevocable trust must be permanently separated from the grantor's control.

First answer by Kluss. Last edit by Kluss. Contributor trust: 693 [recommend contributor ]. Question popularity: 3 [recommend question].

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Relevant answers:

Can there be a trustee and beneficiary to a irrevocable trust?
A trustee and a beneficiary are essential to a trust. Without a trustee and a beneficiary there is no valid trust. They should not be the same person.
Can the trustee of the irrevocable trust be the beneficiary?
No. In order to protect the trust property from claims the beneficiary should not be their own trustee. That type of scheme makes the trust vulnerable to creditors and also makes a trust invalid in...
Can a grantor be a trustee of an irrevocable trust?
No. A grantor must be completely uninvolved in an irrevocable trust or it doesn't qualify as such.
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Generally no. In an irrevocabe trust the grantor cannot maintain any control over the trust property. Trust law is very complex and trusts are subject to the IRS Code. If not properly drafted a trust...

Irrevocable Trust as grantor trustee and beneficiary?

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