Absolute Trust Talk

Proposition 19 is a ballot measure passed in the November 2020 election in the state of California that significantly changes the property taxes on real estate inherited by children from their parents. And not in a good way. Under this proposition, a parent can only transfer the primary residence (either by gift, by inheritance or by sale) without causing the property taxes to go up. That’s it! Not to mention, the law goes into effect on February 16, 2021, just a few short weeks away. This massive change has left many of our clients and California residents wondering how these negative impacts will affect their estate plan and what they can do in this short window of opportunity to save their families tens or even hundreds of thousands of dollars. Join us as Kirsten Howe discusses the intricate details of this new proposition, the impact on estate plans, and the next steps you need to take now. Big Three from Episode #055: Prop 19 is a time-sensitive issue that may impact real estate inherited by your childr