01/11/2025
What You Need to Know When a Property Owner Passes Away 🏠📄
Did you know? When a real estate owner in California passes away, the county assessor must be notified of the change in ownership within 150 days of the date of death. 🕒
Failing to file the required forms, such as the Change in Ownership Statement – Death of Real Property Owner, could result in hefty penalties and unexpected property tax increases. 😱
This filing is crucial, especially if you're planning to pass down property to heirs. Certain parent-to-child or grandparent-to-grandchild exclusions may help avoid a property tax reassessment—but only if you act on time! ✅
💡 Our office is here to help your family through this difficult time and ensure you avoid costly tax surprises. We can help you save thousands in transfer taxes, property taxes, and capital gains taxes, all while protecting your family’s assets.
📞 Contact us today for guidance and a free consultation! 408-978-7076
Together, we’ll navigate this process with care and expertise. 🙌