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Estate Planning Tips for Children Selling Parents Home in California

  Selling the Family Home It’s been 50 years since your last parent died. Mom and Dad left one asset – the family home – that they bought for $30,000 in the roaring 20’s. At the time of your parents passing, the rustic home was worth $196,000. A recent appraisal conducted on the ‘ol home […]

2013 California Real Estate Tax Law: Homeowners Exclusion Specifics

Buying vs. Renting in Golden State You’ve been a renter your entire life. It’s not that you haven’t had the means. It’s simply been cheaper to rent than buy in the Bay Area. The tides have changed. Recent statistics show that home ownership is now more affordable than renting in all but 2 of 100 […]

Income Tax Law: Reporting Sale of Inherited Real Property

Follow the Rules or Else… Income tax law strikes fear in the hearts of Americans. The reason is simple. Income tax law is confusing. And the consequences of misinterpreting income tax law  (whether intentional or not) can be dramatic, ranging from lost fortunes in tax penalties to prison sentences for tax evasion. No one’s immune from […]

California Estate Planning: Saving for Retirement Saves Inheritance

Passing Nest-Egg to Loved Ones Let’s face it. You’re not getting any younger. And after that health scare from last year, you’ve been thinking more and more about protecting yourself and your loved ones in the future. With retirement looming, you created a comprehensive California estate planning package that includes a will, trust, advance health care directive, and durable power of attorney […]

2013 Estate Planning Laws: Have A/B Trusts Tumbled Off Fiscal Cliff?

A/B Trusts a Thing of Past for Most Prior to the Fiscal Cliff legislation (passed on New Years Day 2013), an A/B Trust was a common estate planning tool used by married couples to minimize estate taxes. The Fiscal Cliff legislation impacts 2013 estate planning laws by making the federal estate tax exemption transferable (or […]

California Real Estate Law Investing Loopholes Guide

Put Uncle Sam to Bed Tick-tock-tick-tock… Time’s running out. You’re not losing sleep this year though. Adios, panic attacks. See ya, blood pressure medication! Determined to beat Uncle Sam, you  hired a real estate law attorney in the off-season to help minimize your tax obligations due April 15th. First cat out of the bag. Review […]

Tax Law: Taxable & Not Taxable Income

Avoiding the Season of Fear Nothing strikes fear into the heart of americans like tax law. The reason is clear. Tax law is confusing. And the implications of misunderstanding or misapplying it can be severe. You’re not alone if you don’t understand tax law, especially as it relates to income. Einstein himself said the hardest […]

Estate Planning Techniques to Preserve Inheritance

Step Away from the Table, Baby Boomers Come on, red. Come on, red… Turn the rally cap around, uncross your fingers, and stop bugging the waitress to blow on your dice for luck. The odds of hitting it big on a windfall inheritance from Mom and Dad are no longer in your favor. This is […]

Real Estate Law: Co-Owner Buy-Outs

Be Bought Out or Sell, That is the Question You’ve just suffered the loss of your last parent. While you knew this day would come, it doesn’t lessen the impact. You’re overwhelmed with grief. Adding to the stress, a real estate law firm representing your only sibling has written you a letter quoting some mumbo […]

Real Property Law Changes & Mortgage Interest Deduction Eligibility

In real property law we’ve found that one of the “Sacred Cows” of home ownership is the deduction allowed for the yearly interest paid to your bank on a home loan. The current understanding is that you must be on title to the home, on the loan, and pay the monthly payments in order to […]