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Marlene Cooper Law

Category Archives: Taxes

Property Tax Reassessment Exclusions

By Marlene S. Cooper |

Even though my husband and I are not in the market for a new home, we like to follow the real estate market. It is interesting to see how location, size, renovations, timing and foreclosures affect home prices. We have seen houses that are literally next door to one another selling for a price… Read More »

Taxes, Death, and Trouble

By Marlene S. Cooper |

When someone passes away, there are three separate taxes to consider: property taxes, income taxes and inheritance taxes. Here is some general information concerning these taxes, however, I am not a C.P.A. or a tax professional. For further information or tax advice, please see a qualified tax professional. As most California property owners know,… Read More »

A Timely Death

By Marlene S. Cooper |

Timing is everything, even in death. In terms of death taxes, the year 2010 was a good year to die because persons dying in 2010 passed their entire estate to their heirs free of death taxes. For those dying in 2011 and for the foreseeable future, $5 million can be passed to heirs free… Read More »

Property Taxes and Estate Planning

By Marlene S. Cooper |

Unlike residents of some other states, Californians are privileged to have several favorable rules regarding property taxes. The biggest advantage is Proposition 13 – the initiative passed by voters in 1978 to keep people from being priced out of their homes by runaway property taxes. Under Proposition 13, the annual real estate tax on… Read More »

Reducing Estate Taxes Through a Living Trust

By Marlene S. Cooper |

In this article I would like to discuss another way estate planning can help you save money. By proper planning, you can reduce or eliminate estate taxes (sometimes referred to as inheritance taxes). Yes, there are taxes on the wealth you transfer to your heirs! You might think it is unfair that you are… Read More »

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