[quote=AN]
If you can afford to pass down a few hundred grand to your heirs, why wouldn’t you pass down a house instead, especially if you’re in CA. Just the prop 13 alone is enough reason to give your kids house(s) instead of cash.[/quote]
My parents did this. They bought many properties in Santa Barbara back in the day, with two houses (side by side) for their sons. My brother bought his in 2001, just before the market went on a tear.
Problem is, the house isnt huge, and two growing girls take up alot of it. (Not supprisingly the biggest problem they face in a house full of girls is that there isnt enough closet space.) But he is kinda stuck because he inherited my dads property tax. It is STUPID low. It wouldnt cash flow, would cause rifts in the family if sold, and is so damn cheap that moving makes almost no economic sense. He is litterally stuck. (it doesnt help that he is underwater on a condo he bought as a rental. It is sucking up his extra $$)
So maybe $$$ is a better option, as it would let people make personal decisions that better fit their situtation.
