Higher property tax for your children in California!

Рет қаралды 212

Күн бұрын

Thinking of Moving to the Pasadena Los Angeles area? Connect With Us!
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TITLE OFFICER CONTACT:
Jerry Wu , Steward Title Company
jwu@jerrywutitle.com
www.jerrywutitle.com
00:00 - (Introduction)
2:09 - (How downsizing Home owner can keep current low assessed value?)
5:58 - (How children can keep low assessed value?)
10:14 - (How should you take title on properties you plan to sell or rent in future?)
13:58 - (Transferring non-owner occupied property to children)
"Living in Pasadena" is brokered by
Foxland Real Estate
2990 Huntington Dr, San Marino, CA 91108
Kevin Kuo is not a CPA, attorney, insurance, or financial advisor and the information in these videos shall not be construed as tax, legal, insurance, construction, engineering, health and safety, electrical or financial advice. DO NOT make buying or selling decisions based on Kevin's videos. If you need such advice, please contact a qualified CPA, attorney, insurance agent, contractor/electrician/engineer/etc. or financial advisor.

Пікірлер: 2

@johnhwang339 11 ай бұрын

Excellent video, Kevin! I'm enjoying you bringing experts in on your videos to talk about other aspects regarding home ownership like title, prop 13 and 19, and property taxes. Maybe you can have someone come in talk about homeowner's insurance and earthquake insurance. Possibly even flood insurance...although we don't see it often here in CA. One thing to mention with a living trust, once a beneficiary inherits the property, he/she doesn't need to transfer the title out of the trust. What I would say is to get an appraisal done right away so that this would be the cost basis. When the time comes to sell the property, the capital gains would be the amount over the appraisal that was done. The beneficiary can still live in the home and pay property tax based on the lower assessed value. Keep up the good work!

@livinginpasadena 11 ай бұрын

Thanks for the support John. That’s a great tip about the living trust! I’ll look into my insurance contacts… buying homeowner insurance is difficult in CA right now