Step Tax and Estate Planning Annual Institute 2024

Step Tax and Estate Planning Annual Institute 2024

Step Tax and Estate Planning Annual Institute 2024

Commercial Loan Corporation is proud to sponsor the Step 2024, 12th Annual Institute on Tax, Estate Planning and World Economy. This years event will take place at the Balboa Bay Club in Newport Beach, California from February 15th-17th, 2024. If you are interested in attending, you can visit the Step OC website here.

The following information on the event was located on the Step Orange County website. Time to begin thinking about STEP Orange County’s Annual Institute on Tax, Estate Planning, and the World Economy!  With the best speakers in the industry coming to Newport Beach from all over the world, and a third-day featuring material that will be of particular interest to practitioners seeking ethics and bias credits. The material is more relevant than ever, and will be delivered in multiple language channels through technology.

We also moved the Institute to a new facility – the fantabulous Balboa Bay Club Resort, right on Newport’s Harbor! As we are at such a beautiful facility near so many fantastic things to see and do, it would be a crime to not take advantage, so we are actually injecting FUN into the conference. There will be Duffy rides, special dinners, local attractions for our out-of-town attendees (and locals too), and maybe even a special Key Note Speaker, who may or may not be in the financial services industry.

Conference program includes:

· Hot Topics – 2024 Estate, Gift and GST updates with Andy Katzenstein
· Advanced Generation Skipping Tax Issues
· International Estate Administration
· US-UK Estate Planning
· US-China Estate Planning
· US-LATAM Estate Planning
· Corporate Transparency Act
· Modern Families and Trusts

Two of our Senior Trust & Estate Loan Account Executives, Tanis Kluever and Thaddeus Farrell will be attending the event. If you have any questions on a trust or estate loan they would be more than happy to assist you. If you have any question on our specialized loans to trusts and estates but are unable to attend this years estate planning event, please contact us at (877) 464-1066.

Orange County Bar Association Trust & Estate 2018 Holiday Social

Orange County Bar Association Trust & Estate 2018 Holiday Social

Please Join Commercial Loan Corporation at the Orange County Bar Association Trust & Estate 2018 Holiday Social

Orange County 2018 Holiday Social

Please join Commercial Loan Corporation at the 2018 Orange County Bar Trust & Estate Holiday Social. The event is being held on December 6th, 2018 at the Ocean Institute in Dana Point. Both Mike Riggs and Tanis Alonso will be attending the event from the Commercial Loan Corporation Trust & Estate Lending Department.  They can answer any questions that you may have on our loans to trusts and estates. We are experts on 3rd party financing to trusts and estates to help our clients preserve a parents property tax base on an inherited home.

Third Party Trusts & Estate Loans To Keep A Parents Property Tax Base On An Inherited Home.

If you will not be able to attend the Trust & Estate Holiday Social, but would like more information on our trust loans, estate loans or a loan to a home in probate; please call us at 877-464-1066. We can give you a free estimate on how much you might be able to save by preserving the property tax base on an inherited home. We assist both clients and attorneys with matters regarding California Proposition 58. For additional information on our trust loan programs or to apply for a trust or estate loan online, please visit this trust and estate loan page on our website.

You can register for the Orange County 2018 Holiday Social Here:
Register online at www.ocbar.org

California Residential Property Tax Consultant

At Commercial Loan Corporation we specialize in assisting clients with the financing they need to keep a parents low property tax rate on an inherited property. Transferring a Parents of Grandparents property tax rate can be a extremely beneficial; in fact, on average we save our clients over $6,000 per year in property taxes. Taking advantage of the California Proposition 58 property tax benefits can be very complicated and we always advice that you use the services of a qualified Attorney or Resident Property Tax Specialist. With so much potential property tax savings on the line, you want to make sure that all of the rules are followed and that all of the documents are processed correctly. Failing to do so may disqualify you from an Exclusion From Property Tax Reassessment.

A residential property tax specialist and specializes in helping clients preserve a parents low Proposition 13 protected property tax rate when a home is transferred or inherited. Often times he works with clients where the inherited real estate is contained in a trust or is part of an estate. It can be a very complex matter. If the property is not transferred appropriately or the financing is not done in accordance with California law, you may become ineligible to retain a parents property tax base rate and the home may be reassessed at current market value.

California Property Tax Consultants work with the clients of attorneys, CPAs, financial planners, and real estate professionals to minimize real property tax assessments before or after transactions involving the transfer or purchase of real estate. One of the reasons why Property Tax Consultants are so valuable when it comes to keeping a parents low property tax rate is that he formerly worked for the Orange County Tax Assessor’s Office for almost 25 years. So he has the first hand experience to make sure you obtain the tax savings that you deserve. Prior to becoming a California Residential Property Tax Consultant, Michael worked as a Legal Analyst at the County Tax Assessors Office. During that time, Property Tax Consultants have observed many real estate transactions that had undesired results due to property owners either never consulting with counsel, or advisers were not familiar with property tax law and its consequences. A Property Tax Consultant in order to help advisers and their clients avoid those unintended results, and plan and structure their real property transactions to achieve their goals.

 If you are in need of Trust or Estate financing or are interested in preserving a parents low property taxes on an inherited home, please call us at 877-464-1066 so that we may assist you. We can help you put together a plan of action and review your potential property tax savings with you.

California Private Money Lender

CALIFORNIA PRIVATE MONEY LENDER

CALIFORNIA PRIVATE MONEY LENDER

Bridge Loans For Trusts & Estates

When it comes to choosing a California Private Money Lender or California Hard Money Lender, you have a handful of options to choose from. Selecting the right one might be more important than you think.

Interest Rates, Penalties & Fees

For instance, choosing the best private mortgage lender can have a significant impact on your pocketbook. Lenders make money on a loan in a few different ways. The most common ways are through fees, interest rate premiums and penalties. One of the most important things that separates Commercial Loan Corporation from other California Private Money Lenders is that we do not charge any form of prepayment penalties, we offer competitive fees and have some of the lowest interest rates in the hard money lending marketplace. Prepayment penalties alone can cost a borrower potentially tens of thousands of dollars or even worse, trap them in a high interest rate loan that they no longer want or need!

Customer Service

Another important factor to consider when selecting the right private money lender is customer service. We are aware, that in this day and age, the phrase “Customer Service” almost sounds sarcastic. At Commercial Loan Corporation you are more than just a loan number. We might be a relatively small private money lender, but we are big on the customer experience. Regardless of your loan amount, you will always be treated with respect and courtesy by every member of our team. It is a sincere goal of ours to provide you with the fastest and best mortgage transaction that you have ever experienced. In many cases, we can fund a private money loan to a trust or estate in as little as 7 days. Please view some of our recent customer testimonials located here.

Experience

As you may be aware, in some situations California Proposition 58 grants residents the ability to transfer Real Estate along with a Proposition 13 protected property tax base from a parent to child. Sometimes in order to qualify for this exclusion against reassessment of property taxes, the beneficiary or heir may require a private money bridge loan or hard money loan. When it comes to Trust & Estate Bridge Loans and Third Party Private Money Loans to Trusts and Estates, experience with these types of loans is critical. The truth is that most California hard money lenders either never or rarely lend money to a trust or estate for Proposition 58 tax benefit purposes. If the financing is not conducted properly, the County Tax Assessors office is likely to reject the borrowers requests for a property tax reassessment exclusion. Even a small mistake could mean missing out on possibly thousands of dollars annually in property tax savings. At Commercial Loan Corporation, we specializes in providing short term financing and bridge loans to help our clients obtain Proposition 58 property tax reassessment exclusions. Every member of the Commercial Loan Corporation team has at least 15 years of mortgage experience and combined, our team has over 90 years of mortgage experience.

Commercial Loan Corporation is a Professional California Private Money Lender. Please call us at 877-464-1066 for assistance or click here to request additional information online.

Why Choose Commercial Loan Corporation?

Commercial Loan Corporation, A California Proposition 58 Lender

Commercial Loan Corporation, A California Proposition 58 Lender

Why Commercial Loan Corporation

There are several things that separate Commercial Loan Corporation from other California private money lenders. Perhaps most important is that Commercial Loan Corporation specializes in loans to trusts with the specific goal of retaining the original prop 13 tax status. There are a few lenders that consider these transactions occasionally but these loans are a small percentage of what they do. It is critically important that this transaction is done correctly to ensure that the county doesn’t reassess the property. There are a lot of mistakes that can be made if it’s not done correctly. We work directly with both the customer and the attorney to assist in this process. We have adjusted our documents with the help of numerous attorneys to provide a seamless transition when the property is distributed from the trust to the individual taking the property in the distribution from the trust. We understand the process better than most, because it’s all we focus on. And we are the lender so we make all of the decisions ourselves. You are right at the source.

Another very important thing that separates us from anyone out there is our policy on early payment. You will find that other private money lenders want to make as much interest as possible off of the transaction. This is not a bad thing. Companies are in business to make a profit. However, our policy on prepayment penalties helps us stand apart from other lenders. Most lenders, in addition to their loan costs, require a pre-payment penalty of some sort. This can be a standard 6 month or 1 year early payoff penalty or in some cases can be a specific number of months of required interest. If a lender requires that you make 3 or 6 payments of interest on a loan prior to being paid off, it is the same thing as a prepayment penalty. A requirement for certain number on month’s interest guarantees a lender that the loan will be more profitable. If a borrower is required to make a specific number of interest payments, it adds to the cost of the loan. For example, if a borrower is required to make 90 days of payments on a loan, it is the equivalent of adding 2 to 3 percent of the loan amount in loan costs.

Commercial Loan Corporation has no prepayment penalties of any kind. None. This can be extremely beneficial to the customer financially. If the money to pay the loan back is readily available we have worked with customers that pay off our loan immediately eliminating virtually any interest costs on the loan. This means that the initial fees charged for the loan is the entire cost of the loan.

Here is an example…

Say the customer has a personal line of credit available to pay off our loan from their lending institution. We can work with them to determine the best timing to fund our loan depending on the availability of their funds. If we fund our loan on Monday, they can pay off our loan on Tuesday, effectively eliminating the accrual of interest. This can be a great tool to potentially save thousands of dollars in interest payments.

We also work with the attorney and the customer to decide when to file the re-conveyance showing that the loan has been paid off. Some of the attorneys we work with want to wait to file the reconveyence (proof the loan is paid off) until they are satisfied that the county has concluded the Exemption for Reassessment of property taxes. We can accommodate the preference of the attorney in the timing of filing the reconveyence.

Don’t let any of this confuse you, we are here to answer any questions you have on the subject and look forward to helping! We tend to do business the old-fashioned way. We do what we say we’re going to do and we focus on speed and customer service.

For assistance, contact us at 877-464-1066 or call our California Account Executive Mike Riggs at 714-442-8901 or mriggs@cloanc.com.

 

Estate Loans, Probate Loans, Trust Loans and Inheritance Loans

Estate Loans, Probate Loans, Trust loan and Inheritance Loans

Estate Loans, Probate Loans, Trust loan and Inheritance Loans

Estate Loans, Probate Loans, Trust Loans and Inheritance Loans

If your inheritance includes real estate and you want to preserve your parents or grandparents low property tax rate; there are finance options available to assist you. These loans programs often go by different names but are most commonly referred to as inheritance loans, estate loans, probate loans, or trust loans. In some cases they will also be referred to as hard money loans, private money loans or 3rd party loans for trusts.

Estate, probate, inheritance and trust loans are typically more difficult to come by than conventional real estate mortgages. Often times in order to receive financing on real estate held by a trust, in probate or in an estate, you need to utilize a private money lender. These types of loans are typically intended to be used as short term financing options to provide liquidity to an estate or trust when one is trying to qualify for exclusion for reassessment of property taxes. Once the real estate has been transferred to the beneficiary or heir and the exclusion for property tax reassessment has been secured; that is when the loan is refinanced into a conventional mortgage.

It does not always make sense to utilize a private money, hard money, trust loan, estate loan or probate loan; but there are situations when it does. The most common reason to do so is when dividing the assets of a trust or estate and there is not sufficient cash liquidity to achieve an equal distribution. For instance, one heir or beneficiary may wish to retain ownership of a property. If that is the case and there is not sufficient assets remaining for an equal distribution to the other parties involved; taking out a mortgage on the property may be the best option.

Providers of inheritance loans, estate loans, probate loans, and trust loans

Inheritance loans, estate loans, probate loans, and trust loans are specialized types of real estate mortgages. It can be difficult to find lenders willing to provide this type of financing. Commercial Loan Corporation specializes in this type of lending. Best of all, unlike many other private money lenders, Commercial Loan Corporation does not charge a pre-pay penalty or have a minimum interest requirement which can be costly. If you or your client is looking to obtain a trust loan, probate loan or estate loan, please call us at 877-464-1066 so that we may assist you. To view testimonials from some of our past clients, please view them here.

For additional information on estate loans, probate loans, and trust loans please complete the trust and estate loan inquiry form located here