Disclaimer: The information provided below is intended to provide general and summary information about Proposition 19. It is not intended to be a legal interpretation or official guidance, or relied upon for any purpose, but is instead a summary of information. If there is a conflict between the information provided here and any legal authorities implementing or interpreting the proposition, the text of the proposition and the other implementing or interpretive authorities prevail. 

Recently, the Los Angeles Assessor’s Office has requested that trust and estate practitioners submit questions regarding Proposition 19 (its meaning, its implantation, etc.) directly to the Assessor.

Email messages may be sent to: APublicAffairs@assessor.lacounty.gov

Proposition 19 was narrowly approved by voters last November which offered a new tax revenue stream for the state and benefits for some of its vulnerable residents, but some argued that it disproportionately benefited the wealthy, white residents and disadvantaged people of color and lower-income Californians. Click here to continue reading Ms. Keesey's full article

As I enter the 30+ years of participation in the Trust and Estate Community in California, completing over 10,000 financial transactions, I am grateful to be of service.  Working with fiduciaries and their attorneys to borrow on behalf of trusts and estates is no small matter with complex probate, national and local real property, and finance lending laws.  First Probate Loans manages the probate financing process for short-term loans to trusts and estates, post-property distribution loans, and distributions of trusts and estates. 

The following examples illustrate the firm’s highly specialized expertise in assisting fiduciaries, and its reputation for resolving challenging and difficult problems.

• Property Tax Reassessment Strategy Loans to Keep Low Prop 13 Tax Basis
• Court Ordered Trust and Estate Loans to pay expenses of administration and assist in closing
• Court Ordered Receiver Loans
• Entity loans to LLCs and Corporations 
• Short Term loans to provide liquidity for Businesses, Households and other entities
• Paying for conservatorship costs: 
• Helping heirs keep the family home: 
• Netting profits for a trust estate: