MULTIPLE Real Property Owners in California planing on leaving that property to their children after death must revise or create the right inheritance plan before Mid-January… or the property taxes will go WAY UP after you are deceased!
Los Angeles, United States - January 4, 2021 /MarketersMedia/ —
Los Angeles Estate Planning Attorney Jeff Condon has released a potentially controversial article: "IT’S SERIOUS TIME! CALIFORNIA PROPERTY OWNERS MUST DO SOMETHING BEFORE FEBRUARY 16TH SO THEIR PROPERTY TAXES WILL NOT INCREASE AFTER THEY DIE! If property owners in California do not do something before February 16, 2021, then the property they leave to their children will be saddled with a massive increase in property taxation.
This article does not shy away from the harsh reality. Which is this: The present California law which keeps your real estate property taxes low when that property is transferred to your children after your death EXPIRES on February 16, 2021. After that date, if you plan on leaving your real estate to your children after your death…you must create OR revise an Inheritance Plan BEFORE Mid-January… or the property taxes will go WAY UP after your death!
This article will spark discontent. It will make the reader mad. It will want to make the reader immediately challenge the constitutionality of the new law. But…it is a most necessary reality check for California Property Owners. In fact, Jeff Condon is truly befuddled that the consequence of this new law…the after-death property tax increase…is not more widely known and discussed.
Below is a portion of the piece, which neatly exemplifies the controversial element:
“…There is still uncertainty about what will work…and may not work…to combat the effect and impact of Proposition 19. Not even the Los Angeles County Head Assessor Guy is certain about what will work to “get around” Proposition 19 with any certainty. On December 17th, I attended a zoom seminar held by the Head Assessor Guy (Jeff Prang) and his staff. As nice as they are, they could not answer a lot of questions. The answer to most of our inquiries about our proposed “get-around-plans” was something to the effect of this: “We can’t give you direction until “clean-up legislation” from the California Legislature and/or the Board of Equalization comes down”. But…one thing that is VERY CLEAR! Based on what we know right now…the “battle plans” to get around the pernicious property-tax raising impact of Proposition 19 MUST BE IN PLACE AND COMPLETED PRIOR TO FEBRUARY 16, 2021. Actually, if that plan involves recording a deed with the Los Angeles County Recorder…then that “battle plan’ should REALLY be in place and completed by mid-to-late January…because the County Recorder will be snowed under due to the crush of deeds being recorded as part of those “battle plans”.”
A spokesperson for the law office, says "Of course Jeff Condon never sets out to intentionally upset anybody. The aim of the article is first and foremost to advise CA Home Owners on how and when modifying their inheritance plan before Feb 2021. It is critical, however, that we stay dedicated to our true voice”.
Although our "How Can CA Home Owners CA Prevent Property Tax Increase Before Feb 2021" might unsettle some CA residents, our duty is to clarify the new law and to alert the community about what can still be done, legally. We believe it's more important, to tell the truth, and keep our audience informed than to please everyone. This is notoriously difficult to do."
Although there has been no backlash as of yet, the possibility exists that some people can misunderstand the article with a call to avoid paying taxes. It is absolutely not.
The article writer has been an author of nationwide acclaimed estate planning books for several years and also has stated that the aims of the announcement are to raise awareness among homeowners. So he hopes any controversy will pass quickly and re-emphasizes no offense is or was intended.
The complete article can be found here
Watch full streamed Video discussion in the video link below.
Contact Info:
Name: Jeff Condon
Email: Send Email
Organization: Estate Planning Law Office of Jeff Condon
Address: 3435 Ocean Park Boulevard Suite 108 Santa Monica CA 90405
Phone: 3103930701
Website: https://condonandcondon.net
Video URL: https://youtu.be/ZwDz_FT7rg0
Source: MarketersMedia
Release ID: 88992093
