Trap for the Unwary (Married Couples Only—But Also Important for Single Individuals)
Many people only think about a “step-up” in basis when assets are inherited. (“Basis,” simply put, is the price you paid for an asset like…
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Understanding Proposition 19-Property Tax Reassessment and the Parent-Child Transfer Exclusion
On February 16, 2021, Proposition 19 went into effect, which limited the property tax reassessment exclusion to the current assessed value plus $1,000,000. Moreover, under…
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Real Estate Documentary Transfer Tax Increase
Coming In Spring 2023 - Measure ULA Poses Dramatic Increase in Cost of Transferring High-Value Los Angeles Real Estate. In November of 2022 voters in…