Wood Law

Congress delivered a fresh round of PPP loans. To receive PPP funding this round, business must "show significant losses in 2020 over their 2019 revenue." https://www.forbes.com//new-relief-package-provides-new-/

My kids make me laugh everyday with the funny things they do and say. My daughter came home from the store with this little Christmas tree, put her mask on it and said, "look Dad! A quarantine tree!" #2020jokes

There really is so much to be grateful for even during difficult times like these. We would all do well to take time out of our day to think about what we're grateful for! Happy Thanksgiving from Wood Law!

What is Estate Planning? It’s about taking care of yourselves and your loved ones should you become incapacitated, and upon your passing, giving what you have to whom you want, when you want and in the way you want so your loved ones are protected and provided for.

See my latest video explaining Prop 19 - https://bit.ly/2Ug9NEP. Although the count is not yet official, it looks very likely that prop 19 will pass. Under Prop 19, the parent to child reassessment exclusion no longer applies unless it is a transfer of a primary residence from a parent to a child who uses it in turn as their primary residence. Whereas before there was no limit to the value of the transfer of a primary residence, prop 19 only excludes the first $1 million of a...ssessed value. Prop 19 also changes the rules so that any transfer of a non-primary residence, or rental property, from parent to child is now reassessed. There are some benefits under prop 19 for individuals over 55 to transfer their assessed value to a new home, but there is no doubt about it that prop 19 is a huge change when it comes to parent to child or grandparent to grandchild transfers.