In this first part of a two-part series of The Jones Zone, Darryl Jones is joined by Michael Kelly, a real estate property tax attorney, to explore the intricate world of California property taxes. They take a deep dive into the key provisions of Prop 19 and its impact on property transfers, focusing on crucial topics like parent-to-child exclusion, property value transfers, and the major changes that have affected homeowners since the law passed in 2021. Michael provides clarity on how these laws impact Californians, offering actionable insights to help homeowners navigate their real estate decisions.

Episode Highlights:

• Prop 19 has significantly impacted how Californians can transfer property to their children, capping the value of properties and imposing reassessment limitations.
• Michael Kelly breaks down how homeowners over 55 can benefit from Prop 19's base year value transfer, but he also highlights new challenges.
• Strategies for minimizing tax increases and staying compliant with California property tax laws.

Key Questions Asked:

1. What are some key factors that lead to property tax reassessments in California?
2. What is the impact of Prop 19 on inherited properties, especially when transferring ownership between parents and children?
3. Can you explain how Prop 13 affects property taxes in California and what homeowners need to know?
4. What steps can be taken to avoid property tax reassessments when transferring property into trusts?
5. What are the implications of moving properties into legal entities such as LLCs or partnerships for tax purposes?

Contact Darryl:

Darryl & JJ Jones Real Estate

Email: darrylandjj@gmail.com

Phone: (714) 713-4663

Contact Michael:

Michael Kelly

Email: michael@apataxlaw.com

Phone: (818) 553-1300

In this episode of The Jones Zone, host Darryl Jones sits down with Stephanie Kitzes, an experienced estate planning attorney, to dive deep into the complexities of real estate ownership and planning in California. Stephanie brings her wealth of knowledge to the table, offering crucial advice on how to protect your real estate assets, avoid probate, and ensure a smooth transition of property to heirs. Whether you're a homeowner, a real estate investor, or someone interested in estate planning, this episode is packed with practical advice and actionable insights. Don’t miss out on learning how to safeguard your real estate investments and ensure they benefit your loved ones.

Episode Highlights:

• The different ways to hold title in California and the implications of each method.
• Why placing real estate into a trust is vital for avoiding costly probate and ensuring your property is managed according to your wishes.
• Common mistakes homeowners make when transferring property into a trust and how to avoid them.
• The impact of Prop 19 on inherited properties and what homeowners can do to protect their assets.
• The importance of working with a qualified estate planning attorney to avoid pitfalls that could cost your family time and money.

Key Questions Asked:

• What are the key benefits of holding real estate in a trust compared to other forms of ownership?
• What happens to real estate when the title is not held in a trust and the owner passes away?
• How does the probate process work in California, and what are the typical timeframes and costs associated with it?
• How does holding title in a trust affect property taxes in California, particularly with Proposition 19?
• What steps should homeowners take to ensure their title is held in a trust properly?

Guest Information:

Stephanie Kitzes

Email: stephanie@kitzeslaw.com

Phone: (949) 517-2275

Website: https://kitzeslaw.com/

Contact Darryl:

Darryl & JJ Jones Real Estate

Email: darrylandjj@gmail.com

Phone: (714) 713-4663

In this episode of The Jones Zone, host Darryl Jones sits down with Liz Nelson the marketing director at Morningside Retirement Community in Fullerton. Liz shares her insights into the benefits of choosing a life plan community for retirement, covering everything from the luxurious amenities to the comprehensive healthcare options available to residents. We discuss the importance of planning ahead, the financial considerations, and the peace of mind that comes with being part of a supportive, vibrant community. If you’ve been interested or want to learn more about retirement communities, this is an episode you will not want to miss!

Episode Highlights:

• Introduction to Morningside
• Living Arrangements and Costs
• Amenities and Lifestyle
• Health Care Services
• Community and Socialization
• Personalization and Pets
• Security and Peace of Mind

Key Questions Asked:

• What types of living arrangements are available, and what are the costs associated with each?
• What amenities and services are included in the monthly fee?
• Are there any additional fees for certain activities or services?
• What healthcare services are available on-site, and how are they managed?
• How does the community handle medical emergencies?
• What is the process for moving from independent living to assisted living or other care levels?
• What are the benefits of moving to a senior living community sooner rather than later?

Guest Information:

Liz Nelson

Email: NelsonL@msretirement.com

Website: https://morningsideoffullerton.com/

Contact Darryl:

Darryl & JJ Jones Real Estate

Email: darrylandjj@gmail.com

Phone: (714) 713-4663