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Livings Trusts and Taxes

Let’s talk about living trusts and taxes. There are four kinds of taxes that are relevant to revocable living trusts: income tax; estate and gift tax; generating-skipping transfer tax; and property tax. In the living trust context, income taxes arise when trust property, such as a home or stock, is sold for a gain.The estate … Read more

Living Trusts Basics

This section covers the basics of living trusts. I’ve broken it down by commonly asked questions, which are listed below. You can click the links below to jump to a particular question. Contents What is a revocable living trust? What is the purpose of a living trust? How does a living trust avoid probate? How … Read more