Tag Archives: Living Trust

California probate vs trust

Trust vs. Estate in California: What Property Owners Need to Know to Avoid Probate

California probate vs trust is the key distinction that determines how property transfers after someone dies. When someone dies in California, their property must transfer to someone else. How that transfer happens — and how complicated it becomes — depends almost entirely on whether the deceased person had a trust. Understanding the difference between a trust and an estate is essential for anyone who owns property, is named in a will, or is administering a loved one’s affairs. What Is an Estate? Simply put, a person’s estate is everything they […]

Read More

Property Tax Assessments

As a general rule, real property in California is reappraised for tax assessment purposes when there is a change of ownership, new construction, or the market value declines below the previously assessed value. However, in the nonprofit world of real property, a reassessment may also occur due to a loss of a Church, Religious, or Welfare exemption. Although these exemptions are explained in another article, their affects can greatly impact your property tax assessment. Otherwise, the assessed value of the property will increase by no more than 2% per year. […]

Read More