Living Trusts To Avoid Capital Gains Tax Perpetually

[Jim Blackburn]

This question is for seasoned Real Estate and/or Trust Attorneys.... Is it possible to avoid capital estate tax and/or capital gains tax in perpetuity by owning a piece of real estate in a trust, and never re-recoding the deed in a new name each time ownership is passed on? Instead, simply updating/removing/adding new beneficiaries and or trustees when needed? So for example, a king from 1500 years ago passed on his 100 million estate to his son, which could trigger estate taxes and capital gains taxes.. the assets get passed on over 7 generations and never get taxed once because the recorded ownership never changes, since the property is always titled in the trust. Is this really what some Bank & Trusts are? --- simply massive wealth transfer vehicles to avoid taxation, and to keep wealth in the family, and to continue generating income on that wealth by lending it out to the public fora profit? Am I understanding this correctly? Thank you. Jim