A low assessed value is one of the most valuable assets a California family holds, and a single deed, trust amendment, or entity transfer can erase it permanently.
On October 8 at 12:00pm ET, John Hannon III of Murtaugh | Attorneys at Law will present “California Property Tax Rules and Planning Strategies” for myLawCLE. The program runs 90 minutes and carries 1.5 hours of CLE credit, approved in California and more than 20 other states.
What John will cover:
How Proposition 13 establishes assessed value, and when a change in ownership triggers reassessment
How transfers involving trusts, life estates, estates for years, and leases are treated
The Proposition 19 overhaul of the parent-child exclusion and what remains available for family transfers
Legal entity rules, including change of control, change of original co-owner, and the proportional interest transfer exclusion
Joint tenancy transfers and the original transferor exclusion
Filing obligations and deadlines that follow a change in ownership or control for individuals, trusts, and entities
Estate planning structures that preserve low assessed values, and how the step transaction doctrine can unravel a carefully sequenced plan
The program is designed for estate planning attorneys, transactional lawyers, litigators, and CPAs advising clients who hold California real property.
John spends much of his practice administering the trusts and estates that other people planned, which is a useful vantage point for a session like this. He has seen which plans hold up.
Registration is complimentary with code CATaxes26
