Homestead exemption may not protect your clients equity.

• Position: CalCPA Leadership Institute - Brief article

Despite some recent good news that home prices are rising, California's situation is troubling because the homestead exemption is, for many of your clients, of little use. The homestead exemption is $75,000 for a person, $100,000 for a couple and $175,000 if either member of the couple is:

* 65 or older;

* Physically or mentally disabled and unable to work; or

* 55 or older with a maximum income of $20,000.

Your clients can take steps to put a hurdle between their residential...