Senate Bill 668, authored by Sen. Patricia Bates (Laguna Niguel) – to give families more time to plan for transfers of property. Under Proposition 19, narrowly passed in November, property that is transferred from parents to children will be reassessed to market value as of the date of transfer, with only narrow exceptions. This new “inheritance tax” took effect on February 16.

Read More: https://presscalifornia.com/2021/05/04/coupal-contact-sacramento-now-to-stop-hefty-inheritance-tax/