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Michigan business owners, especially those in the manufacturing and agricultural sectors, have been impacted by tariffs imposed under the International Emergency Economic Powers Act (IEEPA). The US Supreme Court recently declared those particular tar…
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Michigan has dramatically simplified the process for legally changing one’s name for reasons other than marriage. The new rules turn what was a months-long process into one that can be completed in days or weeks. Previously, the process involved a…
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Brand new this year, 530A Accounts (also known as “Trump Accounts”) are an innovative tool for families considering options for their kids’ financial futures and potential estate planning moves for themselves. These tax-deferred savings account…
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The federal Financial Crimes Enforcement Network (FinCEN) has recently finalized its new rule requiring professionals (e.g., title companies and attorneys) facilitating the transfer of residential real estate not financed through commercial lenders t…
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Do-it-yourself estate planning is the gift that keeps on giving. To attorneys, that is. A married client recently came in to see me. He had used one of the online document preparation services to create a revocable living trust for himself. When I re…
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October 9 is national Donor Advised Fund Day. Who knew?! It seems there’s a national day set aside for just about everything these days. (My personal favorite is Talk Like a Pirate Day, but I digress.) Americans have always been exceptionally gener…
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It is a common misconception that adding a child to the deed for your home, thereby making that child a co-owner with you, is a good idea. After all, your home would then avoid probate at your death, right? Yes, true, but the many reasons NOT to make…
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New FinCEN interim rule eases Corporate Transparency Act reporting for small businesses. You may recall that the Corporate Transparency Act (CTA), enacted to ferret out money laundering, originally required companies to report to the Financial Crimes…
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Instances of identity theft, data breaches, and data leaks are skyrocketing. In 2024 alone, the number of victim notices sent by the top five most frequently compromised companies exceeded 1,081,796,000. Most of us have received at least one such vic…
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What can be done about a beneficiary who does not want to accept an inheritance? One solution is to have the beneficiary formally refuse to accept the inherited property. If the beneficiary has not accepted any benefit from the property and signs a …
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