Video: 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.
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.
WHAT IS THE DIFFERENCE BETWEEN A LIVING WILL AND A LAST WILL?
These two legal documents may have very similar names, but
Probate Explained – and How to Avoid It!
Probate is a court process that occurs after someone dies
Estate Planning and Intellectual Property
Estate planning can be much more than putting together a
Advance Health Care Directives: What They Are and Why You Need One
An Advance Health Care Directive (also known as an
Trusts Compared: Revocable Living Trusts, Irrevocable Trusts, Special Needs Trusts, Testamentary Trusts
When it comes to estate planning and asset protection, trusts
Whether you’re in the Atlanta and Brookhaven areas, or in Cobb, DeKalb , Fulton, Gwinnett, or another county in metro Atlanta, we can help you. We can also work with executors by phone or video conference if they are out of state or far away. Only after listening carefully will we present the options that are right for you and explore the benefits and costs of each one.
Estate Planning E-Book for Georgia Residents
Click below to download your free copy of Sarah Siedentopf's e-book, Peace of Mind Through Estate Planning: A Guide for Georgia Residents.