Estate & Gift Taxes in 2024
By Tony J. Tyre, Esq.

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 [...]

By |2024-02-21T23:09:57+00:00February 21st, 2024|Estate Law, Estate Planning, Estate Tax, Gift, Taxes|0 Comments

Non-Probate transfers of small estates in california
By Allyson S. Heller

As a general rule, when a person dies in California holding real or personal property outside of a trust or without properly designated beneficiaries, the deceased person’s assets must be administered under the court’s supervision through a process known as “probate.” Probate proceedings can cost tens of thousands of dollars in statutory fees and administrative [...]

By |2024-01-28T01:25:23+00:00August 31st, 2022|Estate Law, Estate Planning, Probate|0 Comments

The Effect of Proposition 19 on Base Value Transfers for Persons Aged 55 and Older William C. Mason III, Esq., Of Counsel, The Law Offices of Tony J. Tyre, Esq., APC

On November 3, 2020, California voters approved Proposition 19—the Home Protection for Seniors, Severely Disabled, Families, and Victims of Wildfire or Natural Disasters Act. Effective February 16, 2021, the provisions of Proposition 19 replaced those established by Propositions 58 and 193 with respect to parent to child and grandparent to grandchild real property transfers. Additionally, [...]

By |2024-01-28T03:50:47+00:00November 17th, 2021|Elderly Care, Estate Law, Seniors|0 Comments

Taxes in Estates & Trusts – 2021 Update

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 estate tax and [...]

By |2024-01-28T03:53:46+00:00October 20th, 2021|Estate Law, Income Tax, Taxes, Trust|0 Comments

Estate Tax Law Changes: How Will These Changes Affect You?
By Tony J. Tyre

There has been a lot of talk in the media recently about estate tax. Estate tax, often called “inheritance tax,” is different than income tax – it is a value based tax. Your estate only pays estate tax if your estate is worth more than the estate tax exemption. The current exemption is $11.7 million, [...]

By |2024-02-20T17:53:38+00:00April 20th, 2021|Estate Law, Estate Planning, Taxes|Comments Off on Estate Tax Law Changes: How Will These Changes Affect You?
By Tony J. Tyre
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