[TiểuHồLy]

If you bought houses around 2012 in Sacramento
-$100k-$150K, you would get triple by now
-$300k-$700k, you would get double.

I was able to get two while one of my friend got 4. He hits the jackpot. I believe it was double in 2019. I almost got the third one for $80K, made mistake that I thought I didn't have cash for it. Otherwise, another $200K in the pocket. Most of houses built after 2003 has HOA. It's a robbery and a scam from builders and HOA. Recently, new builders get rid of the HOA. I always stay away from HOA.



You really can't run away from tax, you still have to pay at the end unless cheating. The only way is a primary home. A lot people are millionaire in California by choice ...lol.....However, they don't have much cash. I know a few of them that bought the house for $250k, now value around 1 million. The problem is the property tax and home insurance are around 10K, and they can't really quit job because they can't afford it. Even their SSA are only around $1500/month, it's not enough cover unless they sell and move to a cheaper city.

Living Will and Living Trust are different but pretty much similar. So I pick Living Will, it's simple to fill out.  Well, you have to do research in your state to see if you can save money for lawyer. California doesn't require lawyer to do the Will and Trust. Here is what I did below.

1. 401k companies and Individual stock account (Fidelity, etc.), both have online beneficiary which you can login to add Name, BD, SS#, and percent for each person. This will get rid one part of Will / Trust. For bank, I did over 10 years ago where it didn't have online option so I did in the bank office. Very easy, go to bank, give them the name and percent of each person.

2. Home and other assets: Look for Living Will / Trust software or download the forms to fill out. Couple options below for signature.
-----California: just sign and date (Update anytime you want)
-----California: look for any notary license to witness your signature and date. That costs around $15
-----Can get the notary at your Bank too, same $15 cost
-----Lawyer: cost around $3k - $3.5K

Don't forget to research if your state requires lawyer or not for Living Will / Trust. Every state has different laws. It would save you unnecessary cost. Even the California said no lawyer need but some people don't know like my cousin she is smart thought but she still paid $3500 to do Living Trust.....lol....

I couldn't remember the different of Will vs Trust but remember the Will is more easy. However, I got the software, so I did both Will and Trust then sign and date the forms. I only have homes for this so it's more easy, don't need to fill out too much since I did other beneficiaries online.

For California, even you don't have Living Will / Trust, it automatically goes to Next Of Skin. Unless there are two of them fighting for it....lol...That's where lawyer would get 30-40% to settle.

You're right about California's unpredictable escalating estate property prices. Some states keep increasing the assessed values to tax the owners. "Under the table jobs," renting the dining room, living room, and car garage for cash, etc., makes a few Californians choose to stay even though they could sell their million-dollar house and find a snug life in another state with cheaper cost-of-living.

Do you believe in the lucky chance not coming often in a lifetime? I recall 2011, when the real estate market was still in a crash recess, causing the abandoned houses and emptied business buildings to be listed for sale. I was one of the cash buyers. Unfortunately, my offers were rejected because I did not boost the prices as requested by the listing agency. 

To implement a strategy to least strictly documents from banks for beneficiaries, deter inheritance's burden from taxes, and avoid probate, I am seeking a Living Trust. 

I have a tax question for you, bro! Back to my adopted sister's story, she bought her 1st house for $105k, then traded with another for $400k. How is her estate tax liability if she sells that rental property for $1.2 mil?