California’s Proposition 19 changed the way families think about inherited property, property tax reassessment, and long-term estate planning. For decades, many California parents could pass real estate to their children while preserving a low property tax basis under Proposition 13. That changed significantly when Proposition 19 took effect. This California property tax law now places strict limits on when children can keep a parent’s lower assessed value after inheriting property. The rules … [Read more...] about Proposition 19: The California Property Tax Law That Changed Everything
Homeowner Insurance, Title Insurance, and Your Living Trust (VIDEO)
In this Vlog, Litherland, Kennedy & Associates Attorney Justin M. Kennedy discusses the importance of adding your Living Trust as an additionally insured on your Homeowner, Fire, Earthquake, Flood and Title Insurance policies. … [Read more...] about Homeowner Insurance, Title Insurance, and Your Living Trust (VIDEO)
Repeal the Death Tax Act Initiative (VIDEO)
In this Vlog, Attorney Justin M. Kennedy discusses the Repeal the Death Tax Act Initiative. This video was published on 4/12/22. Please note that this initiative did not receive enough signatures to make the November 2022 ballot You can view the fact sheet on the Repeal the Death Act Initiative here. … [Read more...] about Repeal the Death Tax Act Initiative (VIDEO)
Irrevocable Family Real Property Trusts and the Homeowner Exemption (VIDEO)
In November 2020, the voters of California approved Proposition 19. While Proposition 19 has some good features, it also drastically changed the rules for the transfers of real property from parent to child. These drastic rule changes went into effect in February 2021. In this Vlog, Attorney Justin M. Kennedy addresses the Irrevocable Family Real Property Trust and the Homeowner Exemption. … [Read more...] about Irrevocable Family Real Property Trusts and the Homeowner Exemption (VIDEO)
