Now here I am in 2024 with a career as a Crane Operator making six figures on a good year, two beautiful children, and a loving a supportive wife.There is a large gap there I know, but its all stuff that I keep to myself.

He would defer to local attorneys however since trust laws are so specific state to state - and seek to setup what he called a generic children's (uncapitalized/lower-case) deferred sales trust, using your children, for example as beneficiaries.

There is just a ton of Airbnbs in the area and I would say overall moderate draw (concerts, reds/bengals/FC Cincinnati, creation museum, children's hospital).  

I am not an expert, but if a property has appreciated $2.5 Million, I WOULD NOT gift it to my children. 

When she passes, the house will be left to 4 adult children, but with the passing of Prop 19 on April 1, 2021, 1 of the 4 children will have to claim it as their primary residence to keep my mother's tax basis.

We decided we'd like to transfer ownership to our children so we can help them avoid the new Proposition 19 law that requires property tax reassessment upon inheritance.

I don’t feel this is a just reward for my plans to educate my grand children and to relieve the financial burdens of my sons.  

Children can still save money in taxes if they sell their inherited homes thanks to federal step-up in basis tax law.

I even read to him the sentence that says "Under Proposition 19, a child or children may keep the lower property tax base of the parent(s) ONLY if the property is the principal residence of the parent(s) and the child or children make it their principal residence within one year."

Does anyone know which states are similar to CA Prop 13...in terms of fixed increases in property assessment value for property tax and able to pass down the assessment value to children?