LO & LO LLP

California New Homestead Exemption Increased to $600,000. On September 15, 2020, California Governor Gavin Newsom signed into law Assembly Bill 1885 (AB1885) which increases the creditor homestead exemption for personal residences in the Golden State. The new homestead will have a baseline of $300,000 but can be as high as $600,000 based on the median sale price of homes within a particular county in a particular year. These new homestead amounts will also be indexed against ...inflation in the future, so they will automatically increase without the Assembly having to revisit them ever so often. These changes go into effect as of January 1, 2021, and they replace California's terribly antiquated former homestead exemptions which provided a confusion range from only $50,000 for a single debtor to up to $175,000 for a married elderly couple. Considering the high prices for California homes in most coastal counties you couldn't buy the parcel for a mailbox for $50,000 the prior homestead exemptions meant that many Californians were displaced from their homes because of indebtedness, which then often rendered them homeless and thus an additional burden on the state's limited public resources.

To celebrate our 40th year of services to the community, we are offering 20% off of our regular service fees. Please mention you see our offer from Facebook. 626-289-8838 www.lolollp.com

What are the options available to reduce or erase debt and get a fresh start? At LO & LO LLP, we analyse each individual's financial situation and provide customized solutions. $0-down payment option available for qualified individual.... www.lolollp.com First phone, Zoom, or online consultation is free. (626)289-8838

Stop garnishment, levy, or lawsuit with a Chapter 7 emergency filing. We offer zero down option if you qualify. Balance to be paid over 12 months post petition, all without interest. Call (626)289-8838 for a free consultation. Visit our site at www.lolollp.com for more details.

Our attorneys Kelvin J Lo, Esq. and Mikhail Liberzon, Esq. have been named 2020 Top Lawyers by Pasadena Magazine. Congratulations! Kelvin and Mikhail work as a team in our Litigation Department. They have been quite successful in winning, defending and settling cases for our clients for the past year. Keep up the good work!

Sign installed.

Installing sign on our building.

Our junior partner Jonathan Lo, esq. gave a seminar on estate planning and living trusts at San Gabriel Country Club. Good participation and response from the audience.