Last Thursday, the US House of Representatives passed House Resolution (“H.R.”) 1994, Setting Every Community Up for Retirement Enhancement Act (“SECURE”) of 2019, 417-3. The bipartisan legislation has a range of retirement tax policy changes, including: Requiring payout of most inherited IRAs within 10 years (Sec. 401) Raising the required minimum […]
Last year, the Michigan legislature passed a law which offers new options for end-of-life decision-making for the terminally ill individual. POST will help promote simplicity in making a limited number of the more important medical decisions in end-of-life planning, using a check-the-box format. A guardian or patient advocate can also […]
Homeowners frequently contact the law firm with questions about what to do when their relationship with a non-married partner is ending, where both partners bought a home or condominium together and title to the property was taken in both names. Unfortunately in many cases, there is little an attorney can […]
As we all know, Proposal 1 of 2018 was adopted by Michigan voters last November, and went into effect December 6, 2018. However, the Michigan Department of Licensing and Regulatory Affairs (LARA) has up to one year after the effective date in which to adopt rules and regulations for the […]
On September 18, 2018, the Department of Veterans Affairs (VA) amended the rules regarding eligibility for VA pension. These new rules will change VA planning drastically, including the following: 1. There is now a look-back period of 36 months when applying for needs-based pension benefits for wartime Veterans or for […]
The Tax Cuts and Jobs Act made several changes to ABLE accounts. ABLE accounts were created by The Achieving a Better Life Experience Act of 2014. They are authorized tax-advantaged section 529A accounts to help disabled people pay for qualified disability-related expenses. States can offer ABLE accounts to help people […]
