California Parent to Child Exclusion Form Instructions

[Music] This is Gian ducek Montoya of Albertson and Davidson and today we're going to be filling out the claim for reassessment exclusion for a transfer between parent to child you would be filling out this form if you are going to be receiving a property a real property or a qualifying property from your parents either during their lifetime or as a result of their passing through a will a trust or some medium like that so let's go ahead and get started the first information that you're going to be filling out is in this top left box and this is going to be your information so if you're the one receiving this property you would fill out your name and your address next in Section a this is where you fill out the information for the real property that you're going to be receiving the top box right here is the APN or the Assessors parcel number you find this on the deed so you would go ahead and you go to the deed and make sure you type in this information exactly as you see it including the spaces below that you would fill in the information for the address of the real property including the city and under this box here recorders document number if the if you've already recorded the deed and you've received it back you can go ahead and put the recorders document number here and that the date it was recorded if there is a probate that's open you put the the probate case number and the left-hand-side this box in the middle now this is the date of death if you're receiving this property as a beneficial interest under a probate or beneficial interest under a trust you would put the date of death of your parent right here if you do have a court order to order the distribution then you would put the date of decree of distribution on the right hand side now section B applies to who is transferring the property for our hypothetical we're going to say that this property is being transferred to our clients who is a beneficiary under family trust and we're gonna say that her brother is the trustee of that trust and again we're going to use a father stepmother situation we're going to say that father pretty deceased the step mother and stepmother just pasts on january 9th of 2017 so under Section B the first thing you fill out is who is making that transfer for our purposes it's the trustee because there have been are they are the current owner of the property so John Smith trustee if it's a lifetime transfer or as a result of the probate and its parents you can go ahead and fill in both parents names right here below that because this again is a trust we're going to be filling in the ein not a social security number but the ein you can get this from your trustee if it's a transfer from parents then you put the the parents personal social security numbers in each of these boxes right here under paragraph three that's reaiiy denta phi the relationships of the transfer to the transferees so for example on the left hand side we're going to say okay our father owned this property along with our stepmother on the right hand side under for you let the assessor know if this was there your parent principal residence and we're gonna say yes for our example this was the family home you could take a look at these this other information it's asking this doesn't apply to our example but if it does apply to you go ahead and check those boxes under five they want to know whether there have been other transfers that qualified for this exclusion for our purposes now there have not this is the only transfer that's being made under six they want to know if this is the whole interest being transferred or just a partial interest again for our purposes no the whole property is being transferred if that doesn't apply to you you can check yes and identify which percentage of the property is being transferred under seven they want to know if the property is owned in joint tenancy because the property in our example is owned by a trust you're going to like no and please know under eight they want to call to your attention that if you are receiving this property as a result of a banana interests under a will or a trust you need to include that entire document along with this form so that they can determine that yes this is a parent a child transfer and it does qualify for this exclusion below that is a certification so this is where the transfer or fills out his information or her information in this section right here our transfer our transfer or which is the trustee would sign on the left hand side this would also apply if it was a probate and there was a personal representative this would be the personal representatives information or future parents this is where your parents fill in their information under C now this is your information that you're receiving this property so you've put your name and then again you need to identify what the relationship is to the prior beneficiaries or owners so again daughter and stepdaughter if you are adopted you need to put the age at what you were adopted because certain age restrictions apply this section under - right below the adoption section this applies to our hypothetical because we're saying that the surviving parent was a stepmother so they want to know if the parent was still married at the time of this transfer and we're going to say no they were not because a death occurred and so again that's where you fill in this next box and tell them why the marriage was terminated and so we're going to say well father prettiest new stepmother so the marriage was terminated by death and you check that box and then they want to know okay well if there was a death house that survivor remarried if it was a stepparent and for our purposes we're going to say no that this that mother never remarried same thing for in-laws and this section right below this these three paragraphs would apply it if it's an in-law situation it's the same thing if that applies to you go ahead and fill that out and finally we come down here to certification and again this is your information so you're the transferee you sign your name right here you print your name in the middle and you would date it and you also put your address and your telephone number as well as your email [Music] [Applause] you.