I'm specifically asking CPAs, lawyers and/or people who have done these kinds of Trusts. Maybe @wxyz?
We will have a big gain from the sale of my condo that I "inherited" from my mother's estate. We are planning to put it on the market mid-May. We're going to have a sizable cap gain which my CPA has estimated at $260k. Unless oil prices rocket up again, I'm expecting our ordinary gross income this year to be in the $50k range.
Supposedly these Trusts act similar to an installment sale so that you only get taxed on the amount of principle and income you receive each year. My brother, the financial planning trainwreck tried to pitch me one last year when we sold one property last year. I didn't pursue it for a couple of reasons; a) I don't trust him and I don't want him to have anything to do with our finances and b) our net gain was relatively small. I figured we would spend more money on set up and annual maintenance costs than just biting the bullet and paying the taxes.
But with this larger gain and some room for a stream of income, it might be worth pursuing.