Can trustees of an ir-revocable trust transfer the property back to themselves individually?
4 attorney answers
In an irrevocable trust, you like to see the trustor, trustee, and beneficiary being different people. And if they are not, the trust could be collapsed as not being a true trust. It sounds as if the trustor and trustee were the same person(s) but at least one beneficiary must not be a trustor and, if a trustee transfers trust property to himself, that is usually a breach of fiduciary duty, in fact a classic one. A beneficiary or trustor could take action.
The original purpose of the trust must be questioned too. If the power to transfer the property to the trustees was not specifically withheld, it would not worked as a spend-thrift trust and if the trustor retained the power of control of the beneficial interest of the trust, then all the trust income would be taxed to the trustor.
If there was no one who wants to object to the distribution, it probably was not a true trust anyway.
Responses to questions do not create an attorney/client relationship with the asking party. You should only rely on the advice of an attorney with whom you have a retainer agreement.
There are circumstances where trustees can transfer property from an irrevocable trust to themselves, but only if it is made expressly authorized in the terms of the trust. You should take the trust to an attorney and have her/him review it.
No they cannot do so unless the Trust allows for that (in which case it is probably not a irrevocable trust). In California there are ways in which to terminate an irrevocable Trust provided by the California probate code. Those are the only ways in which Trusts can be terminated.
In general an irrevocable trust is just that Irrevocable. In some very limited cases the trust can be changed/revoked but it is much to complicated to provide an adequate answer here. You should consult with your own trust attorney for advice regarding any concern you have.
Please consult or retain a lawyer for your particular issue.