Property Tax Strategies

The Sheffield Law Office counsels clients on their property tax issues. We help you understand how to transfer your property tax basis to your children or into your new home, while avoiding reassessment under Proposition 13. Avoiding reassessment may be the single biggest tax break you will ever receive. However, very few attorneys address property tax issues when working with clients on their estate plans.

Proper planning can save you and your children thousands of dollars every year. Failing to plan may result in the loss of this huge tax advantage. We help our clients avail themselves of legal loopholes to preserve their tax status (even if the children do not want to own their parent’s home). We work with clients to resolve these issues while they are alive, so the children do not fight about them after their parents are gone.

Without proper planning, you and your children may inadvertently miss out on this huge tax break.

For most clients, the failure to properly account for Proposition 13 issues will significantly dwarf all other savings achieved in the typical estate plan. Before you consider moving,either out of state or down the block, call us for a review of your legal options. It may save your family tens of thousands of dollars if you do.