Trust transfer without property tax reassessment

Dec 02, 2015

OUTCOME: Successful outcome. - the one child will pay the same low property taxes that the parents were paying.

Parents' plan left everything to their 5 adult kids. One child wanted the family home and before they consulted with me they'd planned for the 4 siblings to sell their interest in the residence to the ... 1 sibling which would have created a reassessment for property tax purposes Instead, we created the right plan for a trust distribution . The home passed without any property tax reassessment to the one child who wanted it.