What Is a ‘Change in Ownership’ for California Property Tax?
TL;DR The most costly property tax transfer in California is the change in ownership reassessment, which triggers a spike in tax value to the current market rate. Knowing what triggers property tax reassessment is crucial; this includes sales, certain gifts, and, especially after Prop 19, most transfers from parents to children. Transfers between spouses and […]
The Million-Dollar Mistake: Why Your IRA Beneficiary Form Overrides Your Will
TL;DR The most devastating estate planning mistake is the conflict between your IRA beneficiary vs will. Many people assume their will controls their retirement accounts, but the beneficiary form is a legal contract that always wins. The new federal inherited IRA tax rules under the SECURE Act 10-year rule have made this error financially catastrophic. […]
Does California Have an Estate Tax or Inheritance Tax?
TL;DR The simple answer to does California have an estate tax is no. California has no state-level California estate tax or California inheritance tax. However, this creates a false sense of security. The real threat is the federal estate tax, which applies to all Californians and its exemption will be cut in half in 2026. […]