On September 19, 2014, California Governor Jerry Brown vetoed AB 1520, a bill introduced by Assemblyman Mike Gatto and passed 72-0 in the California State Assembly. This bill gained notoriety for being the first “crowd-sourced” bill, written by Gatto’s constituents on a wiki. What was the topic of the bill? Updating the probate code to help protect our pets.
If you obtained health insurance offered through an Affordable Care Act (“ACA”) exchange, such as Covered California, did you know that you are required to report changes in income and other life changes to the IRS throughout the year? Hundreds of thousands of Americans will find out the hard way, with a tax bill from the IRS.
Don’t get caught in that unfortunate situation. If you obtained health insurance through Covered California, you likely received a “premium tax credit” to offset the cost of insurance, based on the estimated income you provided. However, if the actual income reported on your tax return next year is different than the estimated income you reported, the IRS may require you to pay back that tax credit. For many, that could be a large unexpected tax bill.
Staying informed of intricacies of the tax code is difficult, but getting caught off guard by the IRS is even worse. If you run into problems with the IRS or Franchise Tax Board, contact Elizabeth A. Tresp, Attorney at Law, today.
The passing of a loved one is a difficult time, and the need to settle their estate can only make matters worse. Without a Trust in place, the estate will have to go through probate.
Probate is a costly, emotionally taxing, and complicated process. Numerous, complex laws govern the probate process in California. Elizabeth A. Tresp, Attorney at Law, will guide you through the probate process with care, compassion, and confidence.
With Elizabeth’s guidance, you will avoid the pitfalls that can lead to significant and costly errors.
When a California property owner dies, most assets not held in Trust must be administered and disposed of under court supervision as governed by the decedent's Last Will and Testament. If there is no will, State law governs the administration and distribution. Unfortunately, this process causes delays and can eat up a large portion of the estate.
ELIZABETH A. TRESP, ATTORNEY AT LAW IS A MEMBER OF THE STATE BAR OF CALIFORNIA, THE SAN DIEGO COUNTY BAR ASSOCIATION, PROBATE ATTORNEYS OF SAN DIEGO, AND THE AMERICAN BAR ASSOCIATION. ELIZABETH A. TRESP IS ADMITTED TO PRACTICE BEFORE THE UNITED STATES TAX COURT AND THE UNITED STATES DISTRICT COURT, SOUTHERN DISTRICT OF CALIFORNIA. CONNECT TO ELIZABETH ON FACEBOOK, GOOGLE+, AND LINKEDIN. CONTACT US TODAY FOR ALL OF YOUR FAMILY'S LEGAL NEEDS, INCLUDING ESTATE PLANNING, WILLS, TRUSTS, TRUST ADMINISTRATION, ESTATE AND TRUST LITIGATION, PROBATE, TAX CONTROVERSY, TAX AUDITS, TAX PLANNING, ESTATE TAXATION, AND ALL ASPECTS OF FEDERAL & CALIFORNIA TAX LAW.
SERVING ALL OF SAN DIEGO COUNTY, INCLUDING SOLANA BEACH, ENCINITAS, DEL MAR, RANCHO SANTA FE, ESCONDIDO, LA JOLLA, CARLSBAD, CARDIFF-BY-THE-SEA, LEUCADIA, VISTA, SAN MARCOS, RANCHO BERNARDO, POWAY, CARMEL VALLEY, AND THE CITY OF SAN DIEGO. OFFICES IN SOLANA BEACH AND PACIFIC BEACH. CALL (858) 248-2779 OR (888) 814-5552 OR EMAIL FOR AN APPOINTMENT.
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