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Marriage changes a lot of things—but should it change your existing trust? To answer that question, let’s look at a hypothetical: John has two children: Dick and Jane. John purchases a home on Evergreen Lane and transfers that home into the John Doe Revocable Trust. Wanting to leave his children a tangible asset that can [...]
On January 1, 2016, the California legislature enacted Assembly Bill 139, which permits individuals to transfer real property upon death using a revocable transfer-on-death (TOD) deed. Since then, the TOD deed has emerged as an attractive option for homeowners looking for a quick and simple way to transfer property upon death outside of probate court, [...]
Proposition 19 passed in the recent election by receiving approximately 51% of votes and will take effect in California on February 16, 2021. Under current law (pre-Prop 19), there are great benefits for parents who want to transfer property to their children yet avoid property tax reassessment. For example, a married couple can pass property [...]
