Category Archives: Family

Prop 19: Huge Changes to the Parent-Child Property Tax Exclusion Starting February 16, 2021

Estate Planning, Family, Tax Planning

On November 3, 2020, Californians voted to pass Proposition 19. This amendment to the California constitution will have a huge, negative impact on preserving low property tax rates in property transfers between parents and children by substantially narrowing which transfers will qualify for the exclusion once Prop 19 takes effect on February 16, 2021. Previously, … Continue reading Prop 19: Huge Changes to the Parent-Child Property Tax Exclusion Starting February 16, 2021 →

Your family tree: its due process importance in estate administration, trust administration, and conservatorships

Conservatorship, Elder Law, Family, Probate, Trust Administration

Due process and California law requires that your closest blood relatives* be notified by the person in charge of your estate if you died or became incompetent in each of these California contexts: If probate is required because you died without a will, your administrator must notify your heirs*, as your heirs are those who … Continue reading Your family tree: its due process importance in estate administration, trust administration, and conservatorships →

Trust inheritance provision to help your beneficiary buy a home

Estate Planning, Family, Living Trust

Your living trust can provide that, after your death, wealth remains in trust for your child (or other intended beneficiary) to help with designated purposes. Well known examples of such purposes are health and education. But another purpose is help with buying a house. For example, your trust could provide that, after your death, the trustee may … Continue reading Trust inheritance provision to help your beneficiary buy a home →

Trust provisions to protect your children’s inheritance from in-laws

Estate Planning, Family, Living Trust

Just because California is a community property State does not mean that an inheritance here is community property. For a married Californian, property received by gift or inheritance is separate property, not community property. For many parents, that fact alone is enough protection for a child’s inheritance. Perhaps most parents have confidence that their children will do … Continue reading Trust provisions to protect your children’s inheritance from in-laws →