Trusts & The Property Tax Exemption

If you are considering putting your home into a trust, you may be wondering whether that trust will affect your property tax exemption (also known as the homestead exemption). In today's video, estate planning and probate attorney Sarah Siedentopf answers that question for you.
Have a question? Here's how to get in touch with Siedentopf Law:
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estatelawatlanta.com
TRANSCRIPT: Hi, I'm attorney Sarah Siedentopf. I'm an estate planning and probate attorney in Atlanta, Georgia. If you're considering putting your home, the house that you primarily live in, into a trust you may be wondering will you still get the property tax exemption once you've transferred ownership of that house from your direct name into the name of your trust. The answer is, in most cases, yes. You're still going to get that exemption if you move it into a trust that you are a beneficiary of and you continue to live in the property, which of course was one of the rules for the homestead exemption anyway. There is an affidavit that you will need to file explaining the situation and you will still be able to get your homestead exemption. So, transferring your property into a trust should not lose the homestead exemption, as long as you continue living in the property and you are a beneficiary of the trust. If you have more questions about this, I'd love to talk to you. Thanks.

[@TheSkyweasel92]

What if you bought the home in the name of the trust you created directly. The exemptions from the previous owner do or do not carry over?

[@siedentopflaw]

It would still be a change in ownership, so the previous owner's exemption would not carry over.

[@Carrier-Daniel]

As trustee I purchased a home for the trust titled in its name. I’m living in the home and I am also a beneficiary of the trust. It’s a manufactured home and the land is not included so in CA it is not considered real estate or real property title is with the department of housing not dmv. It is permanently affixed and not mounted on axels with wheels or have a towing hitch/tongue.
So is there tax exemption
Or 1047 Public Voucher for refunds
for out of pocket $ for household goods & services aka a US debt or obligation
18 USC ss 8 Obligations or other security of the United States