Homestead exemption and property tax

[PAE]

You gots ta do what lets you sleep at night and I do my best to do the same.

I'm going through setting up a trust now and I was asking my estate attorney about trusts and was referencing some of the things that have been brought up on here over the years. Like using trusts to avoid taxes, putting property in trusts to protect it from lawsuits and not being seized by the .gov and her answer was: people fundamentally don't understand what a trust is and a trust is not a way to protect yourself in those situations. There are other ways to do it, but typically you have an asset portfolio at a level that you are employing your own legal team to come up with strategies to protect you and those assets in a case by case basis. In short her answer was trusts won't protect you from getting your shit seized in those situations or help you avoid taxes.

 

[Gbkeith]

Serious question: Do you think anyone here would take any kind of financial advice from you?

Shout out to my boy Big Gay Dan keeping it real up in here. No cap. Fr fr. On god.

 

[Bacchus]

Can you claim homestead on a yacht?

No.

 

[bgaidan]

Shout out to my boy Big Gay Dan keeping it real up in here. No cap. Fr fr. On god.

 

[JK13]

What you’re suggesting is actually illegal in (at least) states.

So is falsely recording a vehicle sell price to skirt bullshit registration fees, but taxation is theft so fuggit
I’ve heard of some awesome shit being sold for $500-1k

Shout out to my boy Big Gay Dan keeping it real up in here. No cap. Fr fr. On god.

 

[grumpy356]

So is falsely recording a vehicle sell price to skirt bullshit registration fees, but taxation is theft so fuggit
I’ve heard of some awesome shit being sold for $500-1k

Most states with a computer cut a lot of that shit out. (So I see how Idaho may have missed it).

They don't give a fuck what's on the bill of sale. You're paying taxes on the value in the system / blue book.

 

[JK13]

Most states with a computer cut a lot of that shit out. (So I see how Idaho may have missed it).

They don't give a fuck what's on the bill of sale. You're paying taxes on the value in the system / blue book.

Yeah I remember TX being assessed value but ID goes off purchase price

 

[TiTRD]

Guy looking to buy a yacht is complaining about $83.33 a month

 

[arse_sidewards]

Guy looking to buy a yacht is complaining about $83.33 a month

He didn't get to the point of dropping $40k on a dock like it's nothing by not being a jew.

 

[TiTRD]

He didn't get to the point of dropping $40k on a dock like it's nothing by not being a jew.

 

[WaterH]

Guy looking to buy a yacht is complaining about $83.33 a month

Not sure about your math, but your point is takin.

I hate monthly bills. The whole idea of buying the property is so I don’t have a monthly marina bill. It can cost from $400 to $1200 a month to dock at a marina. If you want power and water and you want to be able to stay overnight on the yacht, you are probably looking at the higher amount.

Your point might make more sense if I were buying anew yacht. I'm going to look at a yacht tomorrow listed for less than 60 grand. What’s a new one ton truck cost? 80 grand? There are guys on this forum that have new trucks. Does that mean they don’t care about another hundred a month?

He didn't get to the point of dropping $40k on a dock like it's nothing by not being a jew.

I sure did drop it like it’s nothing. It totally sucks.