Due to some tax and anonymity reasons, I put my home under my 100% LLC.
I will be opening a trust and puting the LLC under my trust.
Will I get the same homestead protections with added anonymity and probate avoidance?
I plan to record the deed into the trust in my county.
You won’t get the homestead tax exemption because you put it into an LLC. Only people enjoy homestead tax exemptions.
Likewise, only people enjoy homestead protection from lawsuits. By placing your home into the LLC, you actually lose homestead protection from lawsuits.
You should sit down with a lawyer and get things straightened out. You can get anonymity, homestead protection, and probate avoidance if you use the LLC and trust together correctly.
The information provided herein is not, nor is it intended to be, legal advice. It is for informational purposes only. No attorney-client relationship has been created and we have no obligations to you or your case.
Your Trust might be able to claim Texas HS exempt status if your Trust directly owns the residential real property that you occupy (as opposed to your Trust serving as the shareholder in an LLC that owns the realty, and as opposed to your Trust owning an LLC which, in turn, owns the real estate). You'll need to carefully review TPC 41.0021, and determine if your Trust is a "Qualifying Trust" as defined by Texas law: https://statutes.capitol.texas.gov/Docs/PR/htm/PR.41.htm.
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