California  |  Tax Law

Legal Question

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

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)

1 Answer

Answered on: 8/23/09, 1:54 am by 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.

Did you find this answer helpful?

0 Users found this answer helpful.

0 Attorneys agree with this answer.

Law Office of Robert F. Cohen P.O. Box 15896 San Francisco, CA 94115-0896

Other answers from this attorney

Didn't find what you were looking for? Ask an Attorney!

Get answers from the top Attorneys
Ask Question

70 Answers given in the last few hours.

86611 Active attorneys ready to answer your question

Search Past Answers:
  Advanced Search