In this episode, Mark Maimon interviews Chris Toews, an estate attorney with expertise in tax law, to discuss the complexities of estate planning, particularly for seniors. They explore the implications of selling property, the concept of step-up in basis, and the impact of Prop 19 on property tax reassessments. Chris emphasizes the importance of professional advice in navigating these issues to avoid costly mistakes. The conversation also touches on strategies like 1031 exchanges and charitable trusts as potential solutions for minimizing tax burdens.
