Prop 19 is here! What next?
Join us on Tuesday, Feb. 18 as Tim Tikalsky, CCIM of Sensiba San Filippo discusses what to do next if you missed the Prop 19 boat.
Starting on February 16, 2021, if parents transfer ownership of their principal residence to a child, that child or children are required to use that residence as their own principal residence, or the taxes will be reassessed. In addition, transfers of real property, other than a principal residence, will no longer receive property tax relief. This change to the parent-child exclusion may also affect many common estate planning trusts established several years (or even decades) ago.
What You’ll Learn:
• Learn how recent Prop 19 changes will impact your estate planning
• Planning strategies for the new Prop 19 era
• IRC Section 1031 Tax-Deferred Exchange Updates
Tim specializes in tax planning, compliance, and consulting for medium-sized to large, closely-held companies, partnerships, and fiduciaries. He has 40 years of experience in handling tax planning and investment analysis for real estate transactions involving commercial and multi-family properties. Tim is a leader in SSF’s Real Estate and Construction Industry Group and provides services including valuations, litigation support, cost segregation, and estate and retirement planning.