619.741.0111 [email protected] DRE#01218310

ATTENTION!!! THERE HAVE BEEN SOME VERY IMPORTANT CHANGES REGARDING PROPERTY TAX TRANSFER!

PLEASE WATCH THIS 2021 UPDATE VIDEO REGARDING THE PARENT/CHILD EXCLUSION DOCUMENT:    • California property tax changes and p...  

What to expect when selling an inherited property in a living trust in California. That’s our topic today! As the trustee of the estate you’re responsible for many different facets of the process, which is why I have covered some of them here.

00:00 Intro
01:20 what to expect, your options
02:20 what is the market value
03:15 what is the remaining mortgage
04:10 other outstanding debts
04:45 How many beneficiaries are there?
05:42 Capital gains and other tax details
06:25 #1 Home sale tax exclusion, do you qualify?
06:55 stepped up basis of taxes
07:38 Reporting proceeds
08:00 IRS Inheritance FAQ: https://www.irs.gov/faqs/interestdiv...
08:10 Inheritance vs estate tax
08:55 Outro

Here at Horizon Real Estate we care about helping you, as the estate executor, administrator or trustee. We want you to feel comfortable throughout the probate process, and to help you get the most money quickly from your estate house or trust property.

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Have a probate house or house in a trust and need guidance on how to prepare and sell? Think of this channel as your real estate resource.

If you’re an executor or administrator and want a free copy of my book "What To Do When You’re Responsible For Real Estate A Loved One Leaves Behind" Or, if you’re a trustee and want a free copy of "Exactly What To Expect As Trustee For Real Estate A Loved One Leaves Behind" simply call my office at 6197410111.

I’m a full time REALTOR in San Diego, California with Horizon Real Estate. I’m an expert at helping executors, administrators and trustees with probate houses and houses in a trust. A wife, mom to three grown sons and a daughter, plus Sheshe (that’s my grandma name) to the two cutest, smartest and busiest kids.

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I am NOT a lawyer or tax professional. The presentations reflect my own understanding of the underlying subjects. However, the presentation is based on my professional experience in the field of real estate. The information contained herein should NOT be used as a substitute for the advice of an appropriately qualified and licensed attorney, tax professional or contracted real estate agent/broker. The information provided here is for informational purposes only. You should consult with a professional to seek legal advice regarding your exact circumstances.

If you want to talk with me about San Diego real estate, fell comfortable calling me at 6197410111 or email me at [email protected]

California DRE license #01218310