Archive for February 20th, 2010

Change of Property Ownership Triggers Big Tax Bill (2010-2-20)

The California Supreme Court recently considered when a transfer of ownership occurs in the context of an estate planning trust.  The dispute arose in under Proposition 13, which sets the rules for property tax reassessment. According to the court, “When Helfrick died, the residence’s assessed value for tax purposes was $96,638, with total taxes due […]