California’s Proposition 58 generally excludes from real property tax reassessment transfers of real property between parents and children. When you are administering an estate or trust and the estate is of the parent or child — check to see if a Proposition 58 “Claim for Reassessment Exclusion For Transfer Between Parent and Child” form should [...]
Estate Planning, Southern California Attorney
Category Archives: Deed Transfers
Transferring Real Estate to Your Trust
Do you already have a revocable living trust?
Do you already have your primary residence in your trust?
Are you about to acquire a replacement home or additional real estate?
If so, transferring your new acquisition to your existing revocable living trust is easy. Of course, while you may want to consult with your attorney before [...]
Notary Issues: (1) Name Changes and (2) Not Driving?
Name Changes.If you recently changed your name and own real property, please consider doing a quitclaim deed from your old name to your new name while you still have identification for proper notarization.
We had a situation come up where a client owned real property for many years under one name and changed their name … [...]
Transferring Real Estate Into Your Trust.
Think of your Living Trust as a fish bowl — what’s swimming in there is part of the trust. It is an awkward analogy, but if the "fishies" aren’t in there — the trust does not own any assets. You want the trust to own assets so the successor trustee can manage those assets if [...]
Exemptions From California Property Tax Reassessments.
Property taxes are a big deal in California. It is based on the value of the property at the time of transfer and whether the transfer from one owner to another constitutes a change of ownership.
Say you transfer your home into your Living Trust. This is considered a change of ownership, but it is [...]
