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Assembly Bill 139

What Is Assembly Bill 139?

On September 21 of 2015, Assembly Bill number 139 was approved by the Governor of California and filed with the Secretary of State with regards to the creation of “revocable transfer upon death deeds” (RTDD) that would facilitate the non-probate transfer of real estate. Effectively, the bill provides a method for the owners of real estate to ensure that a piece of property is expeditiously transferred to the intended beneficiary without the review of a probate court. The bill is in place until January 1 of 2021, after which the creation of new RTDDs will depend on an extension of the bill. All RTDDs created during the bill’s tenure will last until otherwise revoked.

Why the Need for a Change?

While probate courts serve the purpose of resolving the complicated affairs of large estates upon a person’s passing, they are primarily intended for superfluous assets that have a high value. Normally, you can bypass the probate courts for pay-on-death accounts, estates whose total value is less than $150,000, or items valuing less than $100,000 if you so choose, but most pieces of real estate will have values far exceeding the limit of the simplified procedures. The courts can be held up for as long as a year under normal circumstances if there are legal concerns, holding the real estate in limbo until the matter is resolved. If there are more complicated issues and concerted legal efforts on multiple sides, it can go on indefinitely. The legal fees associated with a probate court average at $26,000.

When the property is a family home, this mire of time and money creates a staggering upheaval in the lives of survivors that is unneeded.

What Protections Are in Place Against Abuses of the RTDD?

At any time, issuing a new RTDD will override any previously issued RTDDs.

If a person is found to have committed a felony resulting in the death of the decedent or intentionally brought about their death through any means, then the terms of the RTDD are nullified. This is the same as any other form of transfer upon death, including those that normally go through the probate courts, as a basic legal precaution against rewarding people for murder. There is also a 120-day moratorium on selling a home after receiving it due to an RTDD to limit its potential usefulness in confidence schemes.

Should You Consider an RTDD?

An RTDD will be a valuable tool for leaving property to those who may occupy a special place in your life yet not fall under the definition of family. If you have a lifelong romantic partner, a friend, or another person you find deserving for your own reasons, then you can leave have the notarized deed guarantee that they will receive the real estate.

The deed is also a way to reduce some of the estate costs that will cut into your legacy without the legal complication of estate planning or forming a trust.

Ultimately, the RTDD is a new tool that homeowners can use to ensure that their property moves as intended after their death with low costs and relative ease. You should keep the possibility of using a revocable transfer upon death deed made possible by Assembly Bill 139 in mind when purchasing a new home or planning your estate.

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Voted the Best Place to Retire in the US

Voted Best Place to Retire in the US

The Coachella Valley, which consists of numerous resort style destinations such as Palm Springs, Palm Desert, La Quinta, Rancho Mirage, and Indio, has become one of the best places to retire in the United States. It attracts people from all over the world due to its picturesque landscape, rich culture, great restaurants, and diverse communities.It is no surprise to the valley locals why this little desert haven was voted to be the best place to retire in the US, but just in case you are unfamiliar with the area or are considering relocating, here is a rundown of some of Coachella Valley’s best features.

1. Sun, Sun, and More Sun!

The weather is one of the many reasons people move to the area. With extremely mild winters and literally just about 365 days of sun, give or take a few stormy days here and there, the Coachella Valley weather is pretty much consistent. Summers are extremely hot but it’s a dry heat that is tolerable as long as you stay indoors during the months of July to September. If you’re like many of the snow-birds (seasonal residents), you run off to Canada or other cooler regions during the worst part of the summer and return in the fall when the weather is absolutely perfect.

2. Enjoy the rich valley landscapes.

best place to retire

The beautiful landscape itself sells the area to many people. Imagine picturesque desert valleys surrounded by the San Jacinto Mountains, vast green landscapes that double as lush green golf courses, and streets lined with the tallest palm trees – it doesn’t get any better (and calming) than this.

3. Play golf among its luxurious greens.

Golf is not just a sport or pastime in this desert region – it’s a way of life. With some of the most beautiful courses and prestigious clubs in the US, Coachella Valley is a golfers’ paradise. With exclusive country clubs and luxury homes built directly on the course, residents can just step right outside their doors onto the greens.For an unparalleled golfing experience like no other, do check out courses such as the Indian Wells Golf Resort, the Silver Rock Resort and the TPC Stadium Course at PGA West in La Quinta, the Desert Willow Golf Resort in Palm Desert, and the Marriott’s Shadow Ridge Golf Club in the Palm Desert.

4. Live where the stars come out to play.

Known as the “Playground of the Stars,” famous celebrities such as Frank Sinatra, Bob Hope, Sonny Bono, and Gerald Ford put Palm Springs on the map. Now, a new crowd of young celebrities calls the desert home, with the likes of Leonardo di Caprio who just bought his own home in the area.

5. The Coachella Valley is rich in culture and arts.

The valley has always been a very popular tourist attraction, but even more so now with major music, film, and art events happening in the area. A great example of this would be the Coachella Music Festival which is a two-weekend event held every April in Indio. This festival usually showcases popular and established musical acts, as well as emerging artists who make it into the limelight. This musical event is one of the largest and the most famous music festival in the world.

6. Desert Real Estate

Should you decide to relocate to the area, there are a lot of real estate options to choose from. There is literally something for every family and budget – gated communities, country clubs, single family homes, rentals, condos, vacation homes, senior living properties, and luxury estates.

7. Community Stats

The low crime rates, excellent healthcare, and proximity to beach cities make the Coachella Valley an ideal place for seniors and retiring baby boomers to live. There is always something new to look forward to in the area due to the non-stop development of different infrastructures. The local economy is also driven by tourism, as a lot of tourists like to visit the valley for a weekend vacation.Everybody wants to live, or retire, in a peaceful yet active environment. Taking into account all the great features of the desert, there is no doubt why Coachella Valley has been Voted the Best Place to Retire in the US.

For details and listings contact: Sal Puglisi  http://salpuglisi.com/

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There is something for everyone in La Quinta CA

 

There’s something for everyone in La Quinta CA. We have beautiful desert weather, the finest golf courses anywhere, real estate values that are much more accessible than the coastal regions to our west. The architecture of the region is uniquely modern and Southwestern. You can have private seclusion or an active social community, according to your personal desires. Crowds of music lovers swarm to our world-famous Coachella Music Festival every spring, promoting our region to the world.

A new generation has discovered the Coachella Valley, with some of today’s most well known celebrities taking the lead. We have a happy balance between the empty desert to our east and the crowded sprawling urban conurbation to our west, with majestic mountains to frame the boundaries on either side. The lifestyle choices here are many and varied. As more people are exposed to the climate, lifestyle and market of the Coachella Valley, they bring the promise of a healthy and happy continuation of our way of life.

Stars and Festivals Lead The Coachella Valley New Wave

The stars of television and film have always been in the forefront of California real estate. Hollywood discovered Palm Springs decades ago and big names have always led the growth. In the 1950s stars such as Bob Hope, Lucille Ball, Liberace and Kirk Douglas made their homes in Palm Springs, to name a few. Now a new generation, led by Leonardo DiCaprio, who recently purchased Dinah Shore’s home, are taking up residence, as the grand estates and mansions of the region become available.We have seen growth in the luxury end of the market. Homes over $700,000 are selling more rapidly than the lower price ranges. These are still reasonable prices for the Southwest and visitors are discovering our lifestyle as well as Mid Century Modern architecture, and Southwestern aesthetic values.  The communities surrounding La Quinta particularly represents the region’s halcyon lifestyle.

 

La Quinta CA

Photo courtesy of PuglisiWoodard

 

The Coachella Music Festival brings in a new generation of visitors and spreads the name of our region across the globe. For what will now be two consecutive weekends in April, a huge crowd will descend on the Empire Club each spring. This is right outside of La Quinta, in the neighboring city of Indio. With potentially 100,000 people each weekend attending the event.
The Festival continues to be a huge success and a powerful promotion tool to a new generation of home buyers and visitors to the region. The festival continues to become more popular each year and it has a disproportionate impact on the brand name of the region, as well as our economy.The two weekends each had the same lineup of bands in 2014. If that becomes the norm then you can expect separate sets of tourist and visitors, who are unfamiliar with the area, wandering around each weekend. The festival is held right next door to La Quinta, and yet the great thing about our communities is that you can withdraw into them until the fuss is over. Or, if you choose, you can join in, without having to worry about accommodation and travel, at a time when the region is at its most beautiful and scenic. The Festival brings fun and excitement if you want it but it’s not that difficult to avoid if you don’t.

Boom Fears Do Not Mean Boom Prices

The Coachella festival helps our economy and brings in many new visitors, who might not otherwise come here. It serves to promote our real estate market to a new and affluent generation. It never hurts to have that kind of blessing these days! In the last decade, the real estate market across the United States has been nothing if not dramatic. The Coachella Valley region and La Quinta have been immune to all of this in some ways and typical in others. Prices went up and then they went down and now they are returning to historic norms. The difference is that, allowing for the wonderful lifestyle we enjoy, home prices are still much more reasonable than the more crowded and hectic parts of California.The last few years have seen prices that are below the regional historic trend. Even though property values have risen recently, prices are still very reasonable and in the normal range. They have a long way to go before they get back up to the high point of the boom. The most rapid growth in sales have been in the luxury end of the market. Don’t let that put you off, it is still very affordable! You get much more for your money than out on the coast.Although there has been a recovery in the financial markets, the jobs market has yet to come back to previous levels. With the trend toward global outsourcing it is unlikely to do so any time soon. But that is part of a bigger, long-term global trend, not a symptom of a regional or national boom-and-bust cycle. The other possible concern is from China, not toward our jobs but the possible collapse of their real estate market and the banking system that supports it. The way that markets and economies are entangled these days, such a collapse could have a negative impact here at home.

It Is Always The Right Time Somewhere

We have so much here in La Quinta and the Coachella Valley that is good. We have the climate, the lifestyle and the culture. The return of the stars helped to fuel the growth in 2013 but there is plenty of room to expand further. We also have affordability in all price ranges and much to attract new residents. Our communities provide connection and seclusion in equal portions, according to what you may choose. When is the right time to buy or sell real estate in La Quinta and The Coachella Valley? It all comes down to when you decide it is the right time for you and your family.

La Qunita CA