Legal Question in Tax Law in California

I want to place my home that I own into a Living Trust, however, I do not want to loose Proposition 13 that I've had for a long time. ( Proposition 13 is a tax law that raises property taxes no more that 10% yearly)

Asked on 8/22/09, 8:50 pm

1 Answer from Attorneys

Robert F. Cohen Law Office of Robert F. Cohen

You should talk to a tax advisor. Generally, when a property is placed into the owner's revocable trust, it does not lose its tax basis.

Read more
Answered on 8/23/09, 1:54 am

Related Questions & Answers

More Tax and Taxation Law questions and answers in California