Why You Should Beware of Tax Advice Via Social Media

Estate Planning

Feb 17

A viral Instagram reel claims California’s Proposition 19 “hijacks your kids’ inheritance.” In this Tuesday Triage episode, Jill walks through the facts behind the fear. Using a real-world example, she explains how California property taxes actually work, what changed under Proposition 19, and why federal tax rules like step-up in tax basis still protect many beneficiaries. This episode is about slowing down, adding context, and replacing social-media sound bites with real understanding.

What You’ll Learn in This Episode

Why estate-planning advice from social media can be misleading without context

The difference between property taxes and capital gains taxes

How Proposition 13 created predictable property-tax increases in California

What Proposition 19 changed about parent-to-child property transfers

How reassessment works when real estate is inherited

The primary residence exception under Proposition 19

Filing requirements for the parent-child reassessment exclusion

Why step-up in tax basis remains a powerful tax benefit when inheriting property

Financial options after inheriting a home, including selling or renting

What property taxes actually fund in local communities

Resources & Links