02/10/2021
February 16th is less than a week away! Make sure your estate is in order.
February 16th there's a change in Property Reassessments: If your parents are still alive and they own real property (real estate) that you may inherit, you should be aware of the new law that will reassess the property value, and some Californians will watch their property tax bill DOUBLE, and a recent client came to me because their property taxes would have QUADRUPLED.
(Example: Malibu beach home purchased in 1970, property tax goes from $3,000 to now $65,000 annually.)
If you are the kind of person who likes to save money on taxes and want to learn how to protect yourself from the new law.
The Law requires action by Feb 16th.
1. You WON'T be affected if your parent was living there and now you plan to use their home as your primary residence. (This new law DOES affect people who want to keep this property as an investment property/second home/shared with siblings. This ALSO affect all commercial property owned by your parents that you may inherit.)
2. If you are the only beneficiary of your parents' property (AKA, only child) AND you plan to sell the property.
Schedule your free Exemption consultation now to see if this affects you, and see if I can help YOU get an exemption!
Let's protect your inheritance.
