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Tony Mesa Real Estate School Inc.

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Clune Park - Abandoned housing estate in Port Glasgow<br/><br/>The area was once a thriving community of shipyard workers in the 1920s Inverclyde but has fallen into a desperate state.<br/><br/>Inverclyde council have plans for a 31m transformation of the derelict Clune Park estate in Port Glasgow but many of the flats are are privately owned.<br/><br/>The local authority has been battling for over a decade to gain control of privately-owned flats on the eyesore estate, so that it can send in the bulldozers.<br/><br/>Over the years vandals and arsonists have targeted the estate, leaving many homes beyond repair.<br/><br/>The preferred option for the site's regeneration, would include the construction of 135 new homes in a mixture of flats, cottage flats and houses.<br/><br/>Of the 400+ flats it is estimated that only 6 are inhabited.
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The IRS issued Revenue Ruling 2023-2, which had a substantial impact on estate planning, particularly where an irrevocable trust is involved. In the last decade or so, more families have begun utilizing irrevocable trusts to protect their assets from spend-down in order to qualify for government benefits, such as Medicaid and VA Aid and Attendance.<br/><br/>Prior to the issuance of this ruling, it was unclear whether assets passing to beneficiaries through an irrevocable trust would receive a step-up in basis, thereby eliminating any capital gains taxes that would otherwise be owed. Historically, assets that are disposed of during an individual’s lifetime are subject to capital gains taxes on the increase in value of that asset over time. The amount of capital gains owed is determined largely by the difference between the value at the time of purchase and the value at the time of transfer.
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A native of Louisiana, Mr. Garr migrated to Los Angeles and created a multi-faceted business empire that included construction, real estate holdings, educational facilities and banking. Mr. Garr's remarkable business career began in Louisiana, where he constructed one of the first buildings at Grambling College. In the early 1940s he moved to Los Angeles and in 1958 co-founded Coast Construction Company. In 1963 he launched Garr Construction and built homes in Baldwin Hills, Brentwood, West LA a
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