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What happens with my property taxes after I transfer the property into a trust? Will they be reassessed?

This is probably the most question we get. The basic answer is, no. The assessor is not allowed to reassess your property taxes if you are simply transferring it to a trust. However, the assessor looks at this like an assessable event because there was a transfer. They want to get money when they can so they will transfer it over and reassess it. Because of this, we send a Preliminary Change of Ownership Report to them and let them know not to reassess the property taxes.

It could be different in specific situations, but 99 times out of 100 this is not the case. And if it’s going to happen we’ll have told you in advance and why.

  • Does transferring a property into a living trust protect me from creditors or lawsuits?

    Unfortunately, transferring a property to a living trust does not protect you. One of the advantages of a living trust is that you can change it. The reason you can […]

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  • Can I do my estate planning through LegalZoom?

    What is the difference between me handling things myself using LegalZoom vs. coming here and working with you? As a person who is a do-it-yourselfer, I understand the urgent desire […]

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  • Should I discuss with my children how they fit into my trust?

    Should I have conversations with the people that I am planning to put into my trust? It usually comes down to children and many people completing this process are doing […]

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