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In 1986, California voters approved a constitutional amendment under Proposition 58, allowing the exclusion of property tax reassessments when parents transfer property to their children.

The general concept of a trust is relatively simple – a formal arrangement where a party (trustor) assigns control of their property or assets to a second-party (trustee) on behalf of a third-party (beneficiary).

Before getting into the details on reverse mortgage payoffs and how they work, it can be helpful to understand what a reverse mortgage is and why a loved one might get one.

When a parent dies and leaves his or her estate to children and other heirs, the estate assets must be equalized before any money or property can be distributed.

Managing probate estates can be problematic for many reasons, many of which are caused by lack of liquidity in the estate.

Trustees, executors, private fiduciaries, and estate and trust attorneys routinely encounter common problems when administering cash-poor trusts or probate estates after someone passes away.

If you are in need of a private loan, it’s helpful to understand the process to put your mind at ease. It’s not as scary or as involved as people may assume.

Clients planning their estates often want to keep matters as simple and straightforward as possible—both for themselves and for their heirs after they pass away.

Managing probate estates is not easy. When you are grieving after losing a loved one, the last thing you want to deal with is a complicated legal and financial process.

In its simplest form, parent to child (and grandparent to grandchild) transfers are excluded from reassessment, but sibling to sibling transfers are subject to reassessment when it comes to property taxes.