Understanding the Tax Implications of Selling a House in a Trust Before Death
Lost between trust laws and tax codes, trustees face a daunting labyrinth when selling property before death. Missed exemptions and improper filings could cost beneficiaries thousands in unnecessary taxes. Strategic planning around trust structure and timing can transform this tax burden into significant savings. When selling a house held in a trust before death, tax implications vary significantly based on trust type. Revocable trusts typically maintain personal tax benefits like the capital gains exclusion, … Continued