NYC SENIOR CITIZEN HOMEOWNERS EXEMPTION & IRREVOCABLE TRUST
I moved in with my parents to help with Dad before he passed in 2019. Mom (now 88) put the house in an irrevocable trust in 2020 and continued to receive the SCHE. Today she received a letter that her renewal has not been accepted yet because the house is in a trust and she has to send a copy of the trust. Even though we've renewed it 3 times since and it clearly says irrevocable trust. I looked online and saw something about a trustee having to file for the exemption and to send proof of income. I'm 61 and make less than Mom anyway who has her pension and her SS. As I read the trust it says Mom is the Grantor and the beneficiary for her lifetime, and I'm the Trustee. Anything I do as a trustee is for my mother. I don't understand how they can change it and make me file as if I'm the homeowner. Of course Mom is in a panic that her taxes will be 4 times what she pays now. I called her accountant who only works with small accounts, but she is going to see if she can find out anything.
Posted Feb 19, 2025, 3:51 PM UTC