How to Work with Prop 19 Restrictions with Elijah Keyes

Ever since Proposition 19 became law in California, many people have had questions about how to pass property to their kids without also giving them a huge property tax burden. In this video, Ellen and attorney Elijah Keyes answer many of these questions and offer potential solutions.
If you would like to talk with Elijah about decreasing your potential tax burden through estate planning, you can contact him at https://keyeslawgroup.com/ or email his team at info@keyeslawgroup.com.

Although Cookman Law does not handle this type of planning, we do offer customized general estate planning and special needs planning services.

Timestamps:

00:00 - Introduction
00:56 - Elijah Keyes and his practice
01:41 - Estate planning and property transfers - Prop 58 and Prop 13
03:21 - Changes brought by Prop 19
05:31 - A potential but complicated fix for Prop 19 restrictions
06:30 - Eligibility for this solution
07:17 - Capital gains and property transfer under Prop 19
08:29 - Depreciation
10:02 - Not the right solution for everyone
10:32 - How the process works
12:58 - Risks and cost involved
16:08 - Gift tax
16:46 - Why you want to work with an attorney who specializes in this type of planning
18:27 - How to contact Elijah Keyes and Keyes Law Group

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