Відео

Is it possible to avoid a reassessment if i change title from a trust (revocable living) to an LLC? I want assets protection.

Hey there! Just came across your video on revocable living trusts, and I found it incredibly informative. It's intriguing how legal structures like these can provide security and peace of mind, which aligns well with the themes of stability and planning we discuss on my Christian channel. Your insights into the benefits of revocable living trusts resonate with the discussions we have about stewardship and planning for the future. I've not only enjoyed the video but also subscribed to your channel for more valuable content. Keep up the fantastic work!

Thank you for your overview.

I don't see why anybody would need a polst really if you have an advance directive because it says all the same stuff and what's the point of doing an advanced directive if you need a polst on top of it Doesn't make sense Anytime I go to the hospital they ask do you have an advance directive they don't say do you have a polst?

Huh?

I've been reading Denis Clifford's book "Make Your Own Living Trust" (published by NOLO) as part of helping my parents with their estate planning. Clifford takes the perspective that pour over wills are not desirable for most people because if there is any property subject to the will, then it forces the living trust to continue for months until the probate of the will is complete. His perspective is that you should use what he calls a "back up" which directly leaves property outside the trust to desired beneficiaries. The idea is the trust can be distributed and then dissolve, and the will property will be distributed when it finishes probate. While I think I understand his perspective about probate dragging the life of the trust out, it seems to me this approach amounts to "don't make a mistake". That is, if you don't have a pour-over will, then you need to have your estate documents in perfect order to make sure all of your property transfers like you wanted. Is extending the life of the trust really a big deal? Are you familiar with Clifford's perspective? What are your thoughts on it?

Thank you for your knowledge, unfortunately, I inherited my mother and great uncles property. The problem is that my great uncle passed 2 and a half years ago and my mother just passed away from covid and we had a trust, but because my mother never filed the paperwork for my great uncles death, I had to do that in June, I am now receiving these back Adjusted secured Property tax bills AND a Supplemental Secured Property Tax Bills that had nothing to do with me, but I am held liable because I refi the property in my name. I can do the Exempt to protect myself with my mother's information, but I am having a challenge where my great uncle is concern, because these are adjustments dated back to when he passed away 2020-2021 and 2021-2022 that was my mother's responsibility. How do I fight this, because I was not aware of this until after my refi closed Nov 2023 a month ago, and this is my mothers responsibility before she passed in June. I need assistance. please email me olivialey@ymail.com

is an irrevocable trust different or also exempt?

Good information

TY.

At my bank they require the person that you’re giving access to be physically present in order to add them to the access list. You can’t add them by yourself.

*PromoSM* ✌️

Nice to meet you. Snyder! Yo,pro video-work. godspeed~🤩

My .10 Cents abt living trust. For ordinary people who only have 401K, an unpaid house & old cars & furnitures, living trust may not be worth it. Whoever is named as beneficiary on ur 401K have have the priority over anything else. Thus living trust mean nothing. You unpaid mortgage for ur house have to be paid first & pay all the costs before u see any equity if there is left over. You can give away ur old junks.

🌊🔥🌊🇺🇸

🌊🔥🌊🇺🇸

My spouse died and she had prop 13 from inheriting her fathers home. We held title in joint tenancy but that didnt happen until years after her father died. What if I want to downsize. Can I carry over the prop 13. I heard if you buy something within 4 months you keep prop 13 benefits.

Great information. I passed along to family. Thanks Kevin.

Can I add my spouse to the title of my rental property that is in my name only with triggering a reassessment in LA County.

Wow, great information thanks

I've asked and requested and been ignored and monitored.

Thank u

Thank You Kevin $tay Blessed 🙏

Notes

I have a trust and do you still want me to have pour over will ? I have a will doc in the trust.

You didn't cover land patent. How to hold you home in a land patent. Or Superior Title.

Great video, what should I fill out since my dad only had a Will and not a Trust when he passed away? I live in California.

Hi, My Parents bought an apartment in California for me and my brother about 12 years ago. But they financed the property and now have paid it off me and my brother both have lived in the property on and off for the past 12 years currently i am living here and its my primary residence. My parents wanted to transfer the property in our name now without getting hit with reassessment. Also 12 years ago they wrote a letter and had it notarized that this property was bought for us and all proceeds and benifits are for their 2 children. What is the best way to go ahead and transfer the deed ? Thank you !

We often get clients who doubt themselves and by creating a life care plan both you and your parents will know what is happening and it will reduce your stress dramatically. We are both licensed lawyers in elder law and we have looked after our own aging parents so we know what the caregiver goes through and we know how to get the documents organized so there is less stress for everyone.

how about holding title "married as his/her sole and separate property" If I die does my wife would need to go to probate court?

A lot easier said then done

This is very true.

Can I buy my inlaws' house with a VA loan and use the Reassessment Exemption (2021) to avoid a property tax reassessment?

What if my parent sells me their home (currently their primary residence) and I move in with then as my primary residence? How would Prop 19 and Prop 13 affect me?

What's the process if I have a pour over will and I just bought a motorcycle do I write on the will ?

All this fancy talk just fir a 2 page PCOR form declaring the purpose of the transfer. I don’t need a lawyer for that. I grew up around lawyers I find that a lawyer is just a title doesn’t mean you won’t see malpractice or incompetence. But a high invoice.

Good info. Technically it applies to values over 1 million, but don’t trust the county they will assess anyway in my experience. File a gift tax credit with a TOD deed.

Under proposition 19, all real estate will be reassessed at death, with the exception of a primary residence worth less than $1 million that a child actually moves into (if worth over $1M the balance is reassessed). Even if the property is in 1 Mil I’ve seen Assessments done anyway. Quit claim or TOD parents may make use by filing a gift tax return using part of your $11,580,000 lifetime gift and estate tax credit to avoid paying taxes on this gift. This may be a very good use of the $11,580,000 credit, which is set to drop by 50% in 2025, if not lowered sooner by the new administration.

What is the property tax treatment for a house rebuild? For a 56 year old in Cali

Thanks. How does cost base work when the property is under revocable trust? Does it step up automatically as spouses pass away?

Thank you for the information. My family owns a home (three people on the title) and want to add me to the title that way I can refinance the mortage. Will there be a reassessment under this situation? My brother-in-law and siblings are currently on the title.

If I am just buying a property from a third party unrelated seller, is there any way to not trigger re-assessment? Short answer might be just No, but would love to confirm. Thanks for your helpful videos.

Thanks for the useful information, can you please share additional knowledge during a situation where a person is in a coma state, he has no 'will' to make the decision for end-of-life, what would his children do during this situation. Thanks

If I claim (as the child) as principle residence before/after prop 19, can I then live there for 3 years, then move to a new place and rent out the original residence without reassessment?

Please I need your answer. Someone ask me to help her about this trunk box.shes searching person lives in Philippines to help her to claim the safety trunk box.what would I do please answer it.

Thank you! Yep. No need for full bull.