Beirne Law Firm

A question we get asked a lot is: Can I keep my home if I file bankruptcy? The answer is almost always YES! The new law eliminates many qualifying conditions and provides a homestead exemption to anyone with a principal residence. As of January 1, 2021, the California homestead exemption amount will be at least $300,000 and up to $600,000 as in Los Angeles, Ventura, Orange, and San Diego Counties. Call us today for more information.

Take a Look at the New California Laws to take Effect in 2021! Prop 19 Property Tax Changes Modifies the laws related to property transfers. Beginning February 2021, an inherited property is to have its tax value reassessed unless it is used as the inheritor’s primary residence. ... The prop also included changes geared towards disaster victims. Starting April 2021, homeowners 55 or older who lose their home in a disaster are permitted to transfer their tax assessment up to three times, rather than the previously permitted one time. This allows victims of natural disasters to be protected from significant cost of living increases if they purchase a new home after the loss upon the loss of their previous home.

Wishing you the happiest and healthiest of holidays! Thank you to our colleagues, clients, family and friends for all that you do to makes us who we are. From us at Beirne Law Firm!

Elizabeth Warren's new bankruptcy reform bill is wild and radical! Says we should do away with chapter 13 AND 7 and create a combined chapter 10 in which student loans will be dischargeable.

Here's what you need to know about the new homestead exemption in California that will take effect on January 1, 2021. #bankruptcy