To all of our local Bay Area listeners, you may have heard about the recent story of a three-bedroom house listed for $488,000 in San Francisco's Russian Hill with a tenant renting it for only $417 a month. How is that even possible?! If you're as intrigued as we are, stick with us for this episode of Absolute Trust Talk, where we will be dissecting this situation with associate attorney Jessica Colbert. Listen in as we explore crucial lessons in trust management, the impact of California's Prop 19 on property taxes, and the importance of updating estate plans as circumstances change. There's so much wisdom to take away from this episode, so don't miss out!

Time-stamped Show Notes:

0:00 Introduction

1:01 Here's what we know about the situation around the San Francisco Russian Hill house listed for $488,000.

6:23 What happens to a family home after the homeowner dies can be a difficult thing to navigate. We suspect a few specific issues present in this unique case, including the potential for undue influence. Listen in as we discuss!

9:39 Next, Kirsten and Jessica discuss a few ways the grantor could have avoided the issues seen in the Russian Hill case.

11:47 Under Prop 19, homeowners can pass their homes down to their children without increased property taxes as long as the children make it their primary residence. If Prop 19 had been considered in this scenario, it could have prevented several issues.

15:04 If there is one lesson to take away from this episode, it's this: When circumstances change, talk to your attorney about how it might affect your estate plan and adjust accordingly.

Take the Next Step in Your Estate Planning Journey

If this episode resonated with you, we'd love to help you with your own estate planning needs in California. Schedule a complimentary discovery call with our team at Absolute Trust Counsel. During this no-obligation conversation, we'll:

1. Learn about your unique situation and goals
2. Answer questions about our services
3. Determine if we're the right fit to work together

Visit https://absolutetrustcounsel.com/scheduling/ or call 925-943-2740 to schedule your free discovery call today.

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