Generally, there is no taxable event when property is transferred to a self-funded (revocable) Living Trust.
But a person creating a Trust should not take this response to mean that a specific situation is not the exception to this rule — especially if some “creative funding” is implemented.
As such, Standard Legal suggests that anyone who plans to implement a Trust funding method that is not “common” should contact an attorney or accountant versed in taxation issues.
Get complete details on Standard Legal’s Living Trust legal forms software can be reviewed here.