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CA PROP 19 Estate Planning: Family Cabins and Vacation Homes

URGENT PROP 19 UPDATE: The deadline of February 15, 2021 has now passed. But CunninghamLegal has A NEW PROP 19 STRATEGY to retain Prop 13 caps for your children. Read https://www.cunninghamlegal.com/prop19plan and see the webinar at https://www.cunninghamlegal.com/legal_webinars/what-can-i-do-if-i-missed-the-prop-19-deadline/ for more details!
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How to handle California Prop 19, Prop 13: leaving your family beach house, lake property, or mountain cabin to next generation! Thanks to Prop 19 in California, the tax and legal consequences of doing this wrong can create a real mess for your loved ones, play into longstanding sibling rivalries, and ruin all those lovely memories you shared together.

Among the topics we cover in this legal webinar are:

Understanding Prop 19, Prop 13, and Prop 58
The Family Cabin/Vacation Home
Current Property Tax Structure
What “Change in Ownership” means for your children
How reassessment works and what it means to you
Property issues among families like what if a sibling wants to be bought out (without triggering reassessment)?
Best practices for a family vacation home
How Prop 13 worked up until 2/15/2021 and after
How Prop 19 worked up until 2/15/2021 and after
Prop 13 vs. Prop 19
A Prop 19 “Decision Tree”
What a Prop 13 Trust is
Why a Completed Gift is sometimes better
The good stuff in Prop 19
B Trusts
Why you would form an LLC

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