While generally a trust cannot get the Principal Residence Exclusion, it is possible if the trust is set up correctly and the circumstances are correct. The devil, as always, is in the details and you will want to get professional . . . .
The debate about whether a budget is a necessity or a waste of time often centers on a fundamentally flawed definition of budgeting. The exercise of budgeting shouldn’t be designed to limit you, but to give you the freedom to spend money in the manner you wish to spend it.