Free Consultation: (707) 694-7213Tap to Call This Lawyer
Jonathan Purcell

Jonathan Purcell

  • Estate Planning, Probate, Tax Law...
  • California
Rate This Lawyer
Badges
Claimed Lawyer ProfileQ&A
Practice Areas
  • Estate Planning
  • Probate
  • Tax Law
  • Real Estate Law
Fees
  • Free Consultation
  • Credit Cards Accepted
Jurisdictions Admitted to Practice
California
US District Court, Northern District of California
US Tax Court
Languages
  • Chinese: Spoken
  • English: Spoken, Written
Education
University of California Hastings College of the Law
J.D. (2000) | Tax, Estate Planning, Intellectual Property, Business
-
Honors: Tax Law Concentration
Activities: Symposium Editor, COMM/ENT Law Review
Professional Associations
State Bar of California # 215307
Member
Current
Websites & Blogs
Website
Estate Planning & Tax Law | Probate | Trust Administration | Taxation | Real Estate
Blog
NorCal Tax Law | Asset Transactions | Asset Protection
Blog
Petaluma Estate Planning Law | Probate | Trust Administration | Taxation | Real Estate
Legal Answers
3 Questions Answered

Q. Uncle and i bought house as joint tenants he was married title sole and separate property. He passed away
A: The surviving joint tenant(s) file(s) an "Affidavit of Death - Joint Tenant", along with a death certificate, and a "Preliminary Change of Ownership Report" (PCOR), as well as paying a filing fee. Decedent's share is distributed the remaining joint tenant(s) on the deed.
Q. I live in California. I am disabled. If Both parents pass without a will., Will I inherit their homes automatically?
A: In general, property that passes by way of a will, a trust, or through intestacy (no will) does not pass automatically. But certain types of property such as a payable on death bank or brokerage accounts, may pass to the beneficiary automatically. If you receive public benefits due to your disability, a moderate inheritance could disqualify you from some or all of your benefits. A well-drafted disability trust integrated into your parent’s estate plan, could allow you to maintain public benefits, use some of your inheritance for specific items, and possibly stay in your parent’s home.
Q. How are my capital gaines determined on a property I purchased in 1989 in CA?
A: 1. In general, basis is the purchase price of property plus capital improvements, less accumulated depreciation. 2. On death, basis is revalued at the date of death fair market value (DOD FMV), usually by appraisal. see, 26 U.S. Code § 1014 3. If the spouses each held their respective share of the property as SEPARATE property, on the death of the pre deceasing spouse, one half of the spouses' share of the property basis is revalued to DOD FMV. The other half of their share is valued according pursuant to 1., above. 4. If the spouses held the property as COMMUNITY property, on the death of the pre deceasing spouse, both halves of their share of the property basis are revalued to DOD FMV. see, 26 U.S. Code § 1014(b)(6) 5. The donor's basis of gifted property is transferred to donee. see,26 U.S. Code § 1015
Click here to see all answers
Contact & Map
NorCal Tax Law
40 FOURTH ST. STE. 211
PETALUMA, CA 94952
USA
Telephone: (707) 694-7213