Living Revocable Trust - what do to with my parents primary home in case of death?

[Kevin Lanphear]

I heard about having your parents put together a living revocable trust so that their stock/retirement investments and primary home can be easily handed over to their kids if they die. I also wouldnt be wanting to live at my parents home as my primary home either, since we already have a primary with my family.

Does this exempt the trustee (being myself) when receiving the assets from paying any capital gains taxes if they decide to sell/liquidate those stocks or real estate?

If not, what is the best way to prevent paying any capital gains taxes if I choose to sell those assets?