Under California’s Proposition 60, which became enacted in 1986 as Revenue and Taxation Code section 69.5, any “person” over the age of 55 years may transfer the base year value of his or her residential property to any...more
When preparing an estate plan, asset protection for real estate is particularly challenging, because it’s the only asset that can’t be moved. Gifting it is one option, but this leaves the property exposed to creditors. This...more