Remote executions of estate planning documents are again allowed in Michigan through December 31, 2020. On November 5, 2020, Michigan’s Governor signed 2020 PA 246, allowing remote witnessing, and 2020 PA 249, allowing...more
If your loved one recently died with a taxable estate, you might consider using an alternate valuation date to reduce estate tax. A Federal Estate Tax Return Form 706 is due 9 months after date of death, and tax is due on an...more
Has a client decided to leave their bank account or entire estate to one of their children, who will “do the right thing, and distribute it equally among all of my children”? ...more
Considering transferring real estate by quit claim deed when your client is transferring his or her home to his or her Trust? Instead, consider transferring by warranty deed, in most instances, as a best practice. ...more
DC Mex Holdings LLC v Affordable Land LLC and Dale Fuller, ___ Mich. App. ___ (July 25, 2017), Case no. 332439 -
Michigan’s Court of Appeals recently issued an opinion interpreting a statutory provision exempting insurance...more
ABLE (Achieving a Better Life Experience Act) accounts have become a popular savings tool for special needs individuals since the ABLE Act became law in December of 2014. Now that such accounts have been in existence for few...more
The ability to use transfer and liquidation restrictions in legal documents to reduce the value of an interest in a family-controlled (or “closely-held”) business entity (e.g., partnership, corporation, limited liability...more
8/30/2016
/ Business Succession ,
Business Valuations ,
Closely Held Businesses ,
Comment Period ,
Estate Planning ,
Estate Tax ,
Family Businesses ,
Family Limited Partnerships ,
Gift Tax ,
IRC Section 2704 ,
IRS ,
Limited Liability Company (LLC) ,
Partnerships ,
Proposed Regulation ,
Succession Planning ,
Transfer of Assets ,
Transfer Taxes ,
U.S. Treasury