According to the California Supreme Court in Steinhart v. County of Los Angeles, 223 P.3d 57 (Calif. 2010), a home changed ownership, for tax purposes, when settlor of revocable intervivos trust that contained the home died. This is true even though the trust continues and gives a beneficiary the right to live in the home for life.
See also, Wills, Trusts and Estates Blog
Posted by Jamie Delman, Associate Editor, Wealth Strategies Journal
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