Owning property outside California can significantly increase the complexity of your estate plan. For residents of California, integrating an out-of-state home into your estate strategy triggers two important considerations: the risk of needing an ancillary probate, and ensuring proper deed,… READ MORE
Estate Property Taxes California
Since Prop 19 California went into effect in 2021, it has transformed how parent to child transfer of real property is taxed. For families in San Diego and throughout the state, understanding how property tax reassessment works under Prop 19 is… READ MORE
For California homeowners looking to avoid probate and simplify estate transfers, two popular tools often come up: the revocable transfer on death deed (TOD deed) and the living trust. Both can help your heirs receive your property more efficiently but… READ MORE
Proposition 193 excludes from reassessment transfers of real property between parents and eligible grandchildren. Though a living trust is not required, your living trust attorney can advise on the application of the law and apply for its benefits. An eligible… READ MORE
Proposition 58 excludes from reassessment transfers of real property between parents and eligible children in San Diego county and in California. “Child” is broadly defined. Property taxes can be kept lower for one’s “family.” It has nothing to do with… READ MORE
Normally parents pass their estate to their children, and if their children die before they die, then to their children’s children (their grandchildren). The property goes down the bloodline to lineal descendants. A quick and efficient way to do this… READ MORE
Property taxes – giving your house to your kids California allows real estate owners to transfer their residence to their children without increasing the real property taxes. It has nothing to do with whether the owner has a living trust,… READ MORE