Legal Question in Real Estate Law in Massachusetts

Re: vacation home

As has already been said, a living trust will not prevent tax obligations if you were to realize a profit from the sale of your vacation home.

You may want to sit down with your attorney and tax advisor to see what can be done to minimize your tax liability.

Re: vacation home

the tax on the sale of the vacation home will be subject to capital gains tax regardless if it is in a trust or not. This of course assumes you make a profit after commissions and closing expenses.

If you are interest in avoiding estate taxes or protecting assets from claims of third parties, the use of a trust may be helpful.

: vacation home

A trust, alone, will not release you from the obligation to pay taxes. I am not sure what you define as a living trust???