Is the family vacation home a part of your year-end gifting plans?
With the passage of Prop 19 in California, now is an opportune time to reassess how your real estate portfolio fits into your estate and what you plan to leave to future generations.
After February 15, 2020, there will be significant changes to how taxes will be calculated for property that is transferred to your children and grandchildren.
By transferring the property now, you can set up future generations with the same annual tax liability that you have now, instead of a reassessment based on appreciated property values.
Give us a call to discuss your estate planning strategy and how we can help you make the right moves for you and your family.