Legal Question in Wills and Trusts in New Jersey

Re: trust agreement

Yes, the grantor and the trustee can be the same person, depending on the type of trust you are creating and the objective of the trust.

However, you should consult an experienced trust & estate attorney because there are a multitude of gift, income and estate tax issues involved with drafting trusts which must be carefully considered before you sign anything.

Re: trust agreement

A self-settled trust is known as a "Grantor Trust." This is commonly used in estate and financial planning.

There are significant estate law and federal tax concerns. You should consult a tax and estate planning attorney to explain the issues.

I hope this helps!

Ron Cappuccio

http://www.SaveYourEstate.com