We live in a wonderfully philanthropically minded community. When I am doing an estate plan for a client who has a desire to leave a gift to charity, one of the things that I try to accomplish for the client is to make the gift in the most tax efficient way possible. Most people have […]
What is the best way to leave money to a charity upon your death? Read More »
On December 8, 2016 Michigan’s Governor signed into law the Qualified Dispositions in Trust Act. The Act went into effect on March 8, 2017. This new law makes it possible for the first time for people to create a Domestic Asset Protection Trust (DAPT) in Michigan that benefits the person who created the trust. Michigan
MICHIGAN ESTATE PLANNING ENTERS THE 21ST CENTURY. Read More »
IRS issues more guidance on the retroactive effect of the Supreme Court’s decision in Windsor. In U.S. v. Windsor (2013) the U.S. Supreme Court held that the Federal Defense of Marriage Act (“DOMA”) is unconstitutional. Exactly how the IRS would implement this reversal of law was left to future pronouncements by the IRS. On January
Windsor – DOMA Notice Read More »
I had lunch with a group of officers from a local trust department, two of whom were investment managers. The subject came up of what to do with a client who has a high concentration of a single stock in their portfolio. The discussion was enlightening. Throughout my career I’ve noticed a common theme, which
THE IMPORTANCE OF DIVERSIFICATION Read More »
If you are a business owner, and are starting to think about transitioning the business to a younger generation, you might want to consider whether a deferred compensation agreement would help you attain your goals. Basically, a deferred compensation agreement is based upon the belief that a certain key employee is worth more to the
DEFERRED COMPENSATION, not as simple as it seems Read More »
For years, I have bemoaned the fact that my clients were unable under Michigan law to be confident that their wishes with respect to their own funeral and burial arrangements would be honored. The fact is, Michigan gave total control over funeral and burial arrangements to the next of kin. Hard as it is to
Finally, Michigan adopts a rational approach to funeral planning Read More »
In “the old days”, which in terms of estate tax law, wasn’t that long ago, the estate tax rate was 55% and the exemption $600,000. In those days, we advised cilents to adopt AB Trusts in order to keep at least $600,000 out of the taxable estate of the surviving spouse. Fast forward to 2016.
Is your old AB Trust obsolete? Read More »
The Bipartisan Budget Act of 2015, which was signed into law on November 2, 2015, has a provision in Subtitle C, Section 831, which is designed to “close unintended loopholes”. One of those “loopholes” is called “File and Suspend”. This technique currently allows the spouse of a person who has reached Full Retirement Age (FRA),
Social Security Rules change Read More »
When I grew up on the north side of Holland, my school for four years of my life was Beechwood school. Beechwood was a pretty old school. In fact, at one time, my mother even attended Beechwood. However, Beechwood no longer exists. Instead it is an open space/parking lot owned by Pfizer. Pfizer is the
URGENT NEWS FOR PFIZER STOCKHOLDERS! Read More »
Recently, the legislature again acted to change the exemptions to uncapping transfers. Property This time legislators amended the most recent provision (see previous article) to cause it to terminate on December 31, 2014. Then, beginning on January 1, 2015, a new provision specifies that transfers between certain specified relatives, as well as trusts of those
Fill in the form below to reserve your spot today for each person attending. If you have any questions, please call the office at 616.392.1821.
Fill in the form below to reserve your spot today for each person attending. If you have any questions, please call the office at 616.392.1821.
