How to Avoid Property Tax Reassessment After Inheriting a Home in California (Prop 19)

Video Description

𝐑𝐞𝐠𝐢𝐬𝐭𝐞𝐫 𝐟𝐨𝐫 𝐭𝐡𝐞 𝐅𝐫𝐞𝐞 𝐋𝐢𝐯𝐢𝐧𝐠 𝐓𝐫𝐮𝐬𝐭 𝐂𝐥𝐚𝐬𝐬: http://www.FreeTrustClass.com How to Avoid Property Tax Reassessment After Inheriting a Home in California (Prop 19) // If you've just inherited your parents' primary residence in California, you might be facing a challenging situation regarding property taxes. Under Proposition 19, the rules for avoiding property tax reassessment have changed significantly. Before, you could inherit the property and keep your parents' low property tax rate without many restrictions. Now, there are specific steps you must take to avoid a potentially hefty property tax increase. In this video, estate planning lawyer Edmund Yan will walk you through how you can avoid or minimize property tax reassessment when you inherit your parents' home under the new Prop 19 laws. #TreeOfLifeLawFirm #AvoidingPropertyTaxReassessment #CaliforniaProp19 ____________________ ✝️ (𝐅𝐫𝐞𝐞 𝐂𝐥𝐚𝐬𝐬) 𝐇𝐨𝐰 𝐭𝐨 𝐌𝐚𝐤𝐞 𝐘𝐨𝐮𝐫 𝐋𝐢𝐯𝐢𝐧𝐠 𝐓𝐫𝐮𝐬𝐭 𝐖𝐈𝐓𝐇𝐎𝐔𝐓 𝐇𝐢𝐫𝐢𝐧𝐠 𝐀 𝐋𝐚𝐰𝐲𝐞𝐫: http://www.FreeTrustClass.com ____________________ 00:00 - Intro 01:33 - Step 1: Move In as Your Primary Residence 04:11 - Step 2: File a Homeowners’ Exemption 05:54 - Step 3: File for the Parent-to-Child Exclusion 07:07 - Step 4: Understand the $1 Million Exclusion Limit 08:30 - Step 5: Plan for Higher Taxes If Necessary 10:15 - Step 6: Do Property Tax Planning for Your Children 12:45 - Watch the Free Living Trust Class 14:45 - Prayer ____________________ Tree of Life Law Firm (408) 412-1913 https://www.treeoflife.legal 🛑 𝐃𝐎 𝐍𝐎𝐓 𝐂𝐀𝐋𝐋 𝐔𝐒 𝐅𝐎𝐑 𝐅𝐑𝐄𝐄 𝐋𝐄𝐆𝐀𝐋 𝐀𝐃𝐕𝐈𝐂𝐄. 𝐖𝐞 𝐝𝐨 𝐧𝐨𝐭 𝐨𝐟𝐟𝐞𝐫 𝐟𝐫𝐞𝐞 𝐥𝐞𝐠𝐚𝐥 𝐚𝐝𝐯𝐢𝐜𝐞. 𝐎𝐧𝐥𝐲 𝐜𝐨𝐧𝐭𝐚𝐜𝐭 𝐮𝐬 𝐢𝐟 𝐲𝐨𝐮 𝐰𝐚𝐧𝐭 𝐭𝐨 𝐡𝐢𝐫𝐞 𝐮𝐬 𝐚𝐬 𝐲𝐨𝐮𝐫 𝐞𝐬𝐭𝐚𝐭𝐞 𝐩𝐥𝐚𝐧𝐧𝐢𝐧𝐠 𝐚𝐭𝐭𝐨𝐫𝐧𝐞𝐲. Attorney Edmund Yan is on a mission to empower you and every homeowner in America (regardless of your budget) to make your own trust that actually works and actually protects your house and family from probate court. Join Edmund in this free class as he reveals secrets that other lawyers don't want you to know... because after watching this class, many of you will be able to do it yourself without dipping into your savings to hire a lawyer to do it. Due to Edmund's demanding schedule, this free class is for a limited-time only, so click the link below to watch now before this class is no longer offered: http://www.FreeTrustClass.com ____________________ About Attorney Edmund Yan: Hi, Edmund here. I’ve helped hundreds of clients design a meaningful future and leave a legacy of love. Because of my dedication to my clients, I’ve received many humbling awards, including: 🏆 Awarded 10 Best Estate Planning Attorney (AIOLC) 🏆 Clients' Choice Award (Avvo) 🏆 Voted in the top 2.5% of estate planning attorneys under 40 years old for 7 straight years (Super Lawyers Rising Star) Thanks for watching! If you enjoyed this video and want to see more like it, be sure to hit that subscribe button and turn on notifications so you never miss a new upload. ____________________ Legal Disclaimer: The information in this YouTube video (1) is not, nor is it intended to be, legal advice; (2) does not create an attorney-client relationship between you and our law firm; (3) provides personal perspectives on legal news and developments; and (4) is provided solely for informational purposes and may be considered ATTORNEY ADVERTISING. We do not warrant that this information is complete or accurate, and we encourage you to do your own legal research or hire an attorney to ensure your legal questions are answered. We do not guarantee that you and your family will avoid probate court. Results vary depending on your own ability to make your living trust and other estate planning documents correctly. Watching this video, leaving a comment, or communicating with Edmund Yan or Tree of Life Law Firm by email or over the Internet does not create any attorney-client relationship unless an attorney-client agreement is signed. Edmund Yan is licensed in California and New York only. Prior results do not guarantee a similar outcome. If you have legal questions specific to your unique situation, you should speak to an attorney in your state.