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Quick, what’s the difference between a will and a trust? Might you be a testator? And what do you know about a conservatorship, besides the fact that Britney Spears has been embroiled in drama surrounding one? While these terms are familiar, many people are often pressed to define exactly what these important estate planning documents [...]
As your life changes, so too can your revocable trust. While there are numerous reasons why you may want to modify your trust, the following events are the most common that necessitate a trust amendment: The birth or adoption of a child When initially creating your trust, you may have named individuals such as siblings, [...]
Dear Clients and Friends, We are pleased to report that our pet supply drive and fundraiser for Baldwin Park Animal Care Center (BACC) was a resounding success. We are so grateful to everyone who donated. With your help we were able to provide the shelter with much needed supplies, including everything from dog and cat [...]
Losing a loved one is always difficult. In addition to coping with their grief, many people are left feeling overwhelmed by the numerous obligations and tasks associated with settling their loved ones’ affairs and don’t know where to start. Having a general idea of what to do when someone passes away can ease this burden [...]
Have you been told that you can avoid probate by adding your child to your home’s title? Although holding property in joint tenancy with your child will result in a direct transfer to that child upon your death (thus avoiding probate), here are three reasons why you shouldn’t place your child on your property’s title. [...]
This holiday season, in the spirit of giving, we at the Law Offices of Tony J. Tyre, Esq., APC are delighted to be hosting a fundraiser and pet supply drive for Baldwin Park Animal Care Center, which serves cities and unincorporated areas across the San Gabriel Valley. Each year, over six million animals enter shelters [...]
There was a major law update regarding Medi-Cal qualification requirements beginning on July 1, 2022. Prior to this date, a person could only have $2,000.00 of countable assets in his or her name in order to qualify for Medi-Cal benefits. However, starting on July 1, 2022, that asset limit is now $130,000 of countable assets, [...]
Law Update - Medi-Cal Qualification What is Medi-Cal planning program? It's a program in the state of California that helps pay for long-term care and other medical care needs. With Medi-Cal, in Covina and Temple City, you may only qualify for Medi-Cal long-term care benefits if you have [...]
With the holidays just around the corner, I’d like to offer you the following tongue-in-cheek guide: Dos and Don’ts: An Estate Planning Attorney’s Guidebook to Holiday Gifts. Gift Taxes: Presently, the IRS allows an individual to gift up to $12.06 million over the course of his or her lifetime (“Lifetime Gift Tax Exclusion”) without having [...]
When it comes to estate planning, people tend to have misconceptions about living trusts, many of which stem from secondhand accounts from unreliable sources. Below, I debunk some of the most common myths about trusts. Myth #1: “Trusts are for rich people.” Reality: By far the most common misconception I hear from clients is that [...]
