Do I retain control of my property if it is in a trust?
Video Transcript
The answer is “Yes” if you are a trustee and it is a revocable or living trust. The answer is “Maybe” if it is an irrevocable trust, or if you are not the trustee with what’s called a ‘general power of appointment.’ Different trusts are designed to accomplish different purposes, so carefully consult with your elder law attorney before drafting and relinquishing assets to your trust.