As we continue to face challenges in the days ahead, I want to take this opportunity to reach out to you and let you know that, as always, I am here for you, your family, and your friends.
In case you missed it, I wanted to share with you this roundup of recent changes to California law. Covering everything from COVID-19 guidelines to housing to racial equity to employment issues, it’s a comprehensive overview of changes going into effect right now -- and an opportunity for you to review how these may apply to you.
Here are a few items that you may want to take special note of:
● Great news for California homeowners who are 55 and older. A voter-approved measure allows older homeowners to blend the taxable value of their old home with that of a new, more expensive home. This may increase affordability for homeowners looking to upsize or upgrade to a luxury or waterfront property.
● Children who inherit their parents’ home will no longer receive a property tax break if they choose to retain the home as a vacation or investment property.
● California will be regulating student loan servicers, requiring them to inform borrowers about programs that can lower monthly payments or offer debt forgiveness.
● Employers must provide written notice within 24 hours to workers who might have been exposed to COVID-19. In addition, workers’ compensation has been expanded to further assist those who have contracted COVID on the job.
In extraordinary circumstances, we are given the opportunity to step up and be the best version of ourselves. It is so inspiring to me to see people who are continuing to build businesses, raise families, and learn new skills during this difficult time. I believe that we are going to come out of this experience with new resilience and new resources to meet the everyday challenges and opportunities that we’ll encounter in the years ahead.
Have a wonderful January and an extraordinary 2021!
