FPC #11: Property Tax Reassessment
One of the hidden costs of cheap estate planning is the unexpected and very unpleasant surprise of property tax reassessment:
- What is the limit placed on annual increases in assessed property values in California?
- Under what circumstances may a property be reassessed?
- What is a Change in Ownership? What are the statutory exclusions?
- How are entities treated vs. individuals?
- What are the Original Transferor rules concerning joint tenancy?
- What are the rules for trusts?
- How do the Parent/Child and Grandparent/Grandchild rules differ?
- What are the exclusions for entities?
- What is the 64(d) trap?
- What are the pros and cons of holding realty in an entity?
This is one of the focus topics we present on a revolving basis at our weekly “guntrust Challenge” competitions — part shooting match, part quiz show.
So come visit our Family Protection Clinic and gain expertise on estate planning and self-defense!