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If you are a parent, then you should strongly consider having a revocable living trust drafted, in additional to other essential estate planning documents. In the past, I have written about the benefits of having a trust, with the largest benefit being to avoid probate court, due to the time and cost involved. However, on [...]
Many estate planning firms have seen an increase in clients due to the world reopening and people feeling comfortable meeting in person. Everyone, at some point in life, should plan for their wishes, family, and estate. Now is the time to get your legal affairs in order. Peace of mind is worth the effort of having [...]
LOS ANGELES, CA / ACCESSWIRE / May 18, 2021 / Southern California estate planning firm, The Law Offices of Tony J. Tyre, Esq., APC, examines the new estate tax law changes and what people need to know moving forward. As detailed recently on their website, estate taxes are being discussed much more these days with [...]
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, [...]
Over a year after the “Stay at Home” order went into effect, many people still feel overwhelmed and helpless, which is why now, more than ever, it is important to ensure that you and your loved ones are adequately equipped to handle whatever challenges may arise. Although having a living trust or will, directing the [...]
As we approach a new year and await the transition to a new presidential administration, questions have emerged regarding President-elect Biden’s proposed tax plan with respect to estate and gift tax laws. Although currently few details are known about Biden’s tax proposals, here is a summary of two of the most notable proposed changes: Decrease [...]
This is something I hear almost weekly in my office. Most clients are surprised to hear that the general answer is “the government will not take your money.” 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. There are two types of [...]
As Seen On Yahoo Finance! Tony J. Tyre Certified as Specialist in Estate Planning by State Bar of California Board of Legal Specialization. As Seen On Los Angeles Herald & Orange County Sun! Southern California estate planning firm, The Law Offices of Tony J. Tyre, Esq., APC, is pleased to announce that the State Bar [...]
In a pandemic, ensuring your health care affairs are in order is more important than ever. Those who do have properly drafted estate planning documents are likely non-compliant with privacy rules established by the Health Insurance Portability and Accountability Act (HIPAA). As a result, their successor trustees, executors, and financial & healthcare agents often run [...]
As we slowly and tentatively begin the process of emerging from lockdown and embracing the new normal in this time of uncertainty, it may be a good time for you to revisit your estate plan. In my practice, I encounter many clients who had estate planning documents drafted some fifteen or twenty years ago and [...]
