Beginning February 16, 2021, only the first $1,000,000 of taxable value can be excluded from reassessment of a transfer of a principal residence by a parent to a child. Additionally, the child must use the home as their principal residence immediately following the transfer. Let’s look at an example: Henry and Wanda’s principal residence, purchased…
Bankruptcy, particularly chapter 7, is not a typical option for California homeowners with modest equity in their home. This is because the homestead exemption (the amount of equity in your home that can be protected from creditors during bankruptcy) has not kept up with the average price of homes throughout California. Consequently, chapter 7 bankruptcy…
Everyone who has access to your medical information is bound by HIPAA. Here’s what this means for you.
It’s helpful if you can let your doctors know in advance what you want to happen if you can’t speak for yourself. An Advance Health Care Directive lays out who you want to speak for you and what kind of treatments you want. In this way, you are prepared before health care decisions need to be made.
If you are considering bankruptcy, here are a few factors to help determine whether filing a chapter 7 bankruptcy would be a smart option for you.
