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https://www.youtube.com/watch?v=LrlgSg-8QFs Both are useful estate planning tools that have different purposes, and both can work together to create a complete estate plan. Often only a will is created which is only effective after death and leaves the family in court and conflict. A will only will go into effect when you die, while a trust [...]
Tony Tyre an Estate Attorney at Tyre Law Offices talks about the importance of Estate Planning for Young Adults. If you have teenagers or young adults at home, please consult the Law Offices of Tony J Tyre, in Covina and Temple City, California. Attorneys Tony J.Tyre, Allyson S. Heller, and William C. Mason III would [...]
Cookie-cutter plans just don’t cut it for LGBTQIA+ families. While major strides for LGBTQ+ rights have been made in recent years, estate planning law is still written with hetero, cisgender couples in mind, which means that your wishes and your rights may not be respected when you die or if you become incapacitated without proper [...]
It’s that time of year…tax season. When most of us think of tax season, we think of our individual and business tax returns since these are the most common tax forms. Most of us do not think of the tax obligations relating to estates and lifetime gifts—but many of us should. In 2024, the estate [...]
Many pet owners worry about what will happen to their animals when they pass away. Fortunately, California law allows for the creation and establishment of something called a “pet trust,” which allows pet owners to legally set aside funds to be applied towards the lifetime care of their furry, feathery and scaly family members. A [...]
The holidays are here, and what does that mean? Soon you’ll be hearing people talking about their New Year’s resolutions. “I’m going to read at least one hour per day,” they’ll say. They’ll emphatically declare, “I’m going to work out more,” and “I’m going to eat better!” But let’s be honest—these types of resolutions require [...]
Marriage changes a lot of things—but should it change your existing trust? To answer that question, let’s look at a hypothetical: John has two children: Dick and Jane. John purchases a home on Evergreen Lane and transfers that home into the John Doe Revocable Trust. Wanting to leave his children a tangible asset that can [...]
Unknown to many of us, the government does not take money from a person’s estate most of the time. In fact, estates will usually pay little-to-no money to the government through taxes, unless there are debts owed to governmental agencies such as Medi-Cal. The two main types of tax to consider are income tax and [...]
California wills come in several different forms—attested, statutory, holographic, and pour-over. These different types of wills are all similar in that each is a testamentary document (1) created and executed by an adult of sound find; (2) which makes a disposition of property to individuals or entities. However, the format and execution requirements of each [...]
On January 1, 2016, the California legislature enacted Assembly Bill 139, which permits individuals to transfer real property upon death using a revocable transfer-on-death (TOD) deed. Since then, the TOD deed has emerged as an attractive option for homeowners looking for a quick and simple way to transfer property upon death outside of probate court, [...]
