How Can I Leave My House to My Child Under Proposition 19?

Proposition 19 is crucial to know about if you're a parent who is also a homeowner. Prop 19 was passed in 2021 and can have a tremendous impact when it comes to leaving a house to your child. Watch this video to see how Prop 19 affects you and your family, and what its advantages and disadvantages are.
Timestamp:
00:00 Welcome
00:30 Intro
1:05 How proposition 19 affected people
6:54 Additional questions about Estate Planning
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KZbin video URL: • How Can I Leave My Hou...
#EllenCookman #proposition19 #estateplanning

[@user-os4br4ux5j]

Reinstate prop 58! We must FIX Prop 19. Please sign the petition to get this on the 2024 ballot!

[@willieverusethis]

It's great that the kids will have to sell the home rather than turn it into another rental. More homeownership=better neighborhoods, a bigger middle class building wealth through equity. We don't need more landlords and renters. We need more home owners!

[@annm.7176]

As next deputy share if I can tell you don't put things into your kid's names because they will move you out in the middle of the night. We got so many calls on kids money to get rid of their parents and the house was in the kids name and we couldn't do anything about it.

[@rhensontollhouse]

The parents fault for not having a better relationship with the child. Also, the parent should have set up the transfer differently.

[@lilshaz8378]

What about a Transfer on Death?

[@eastpark4864]

Shyster lawyers are trickey, not to put property in joint tenancy.

[@shelleycharlesworth5177]

My mortgage free house is in my trust. No children. If I leave it to a friend, what about the property taxes? Is there any way to AVOID my home being fully re-assessed ? The taxes would be too much for my friend to handle.

[@chrischamberlain7628]

No, since she is actually not your blood relative, the house will be for sure be reassessed. I know it’s not fair & this new law makes me sick.

[@shelleycharlesworth5177]

​@@chrischamberlain7628

[@ellencookman-EstatePlanningSNT]

I'm not aware of any "easy" ways to accomplish this. You might want to check with a real estate attorney for more creative options

[@goaretebarreto5154]

But if you inherit a house and it’s paid off, the rent will pay for the property taxes

[@embedded_software]

We don’t want to be forced to rent! They’re OUR homes. Sacred spaces.

[@mw10259]

ANOTHER CAN'TAFFORDYA TAX