If you own investment property in CA it’s very unlikely your kids will continue your legacy. Prop 19 which passed in 2020 removes the ability for your property tax basis to transfer to your kids. Cashing out will sound sweet once they get their first property tax bill
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@neil_dutta1 Wait you mean I can no longer pay $35/year in property taxes on my great great grandfather’s vineyard in Montecito??
@neil_dutta1 ocean avenue llc v. county of los angeles 🤫
@neil_dutta1 Plenty of prop13 planning aval within entities to transfer ownership w/out reassessment. Prop19 didn't help but was only 1m of assessment allowed. Need to be proactive with it and work with a prop13 specialist to make sure its done right. Kids will prob sell the prop anyways😅