As more modern trusts incorporate the use of a trust director, or trust protector, it is important for the proposed trustee to closely read the trust instrument to clarify when, how, and in what circumstances that the trustee must follow the directions of the trust director.

There are different rules (or traps) depending upon what type of 457(b) plan an individual participates in through his/her employment

Take-Away: There are two, separate, ‘5-year rules’ that need to be satisfied before taking a distribution from a Roth IRA.

It is important to distinguish between a successor IRA beneficiary and a contingent IRA beneficiary. The rules are different for each.

It may be possible, albeit in highly limited circumstances, for a surviving spouse to claim a 100% basis adjustment when their spouse dies.

Understanding Michigan’s uncapping rules for real property tax purposes is, to put it mildly, a frustrating exercise, where applying common sense and logic are a property owner’s worst enemy.

We sometimes forget that miscellaneous itemized tax deductions are suspended until 2026.

For those beneficiaries who inherited a retirement account from an owner who was beyond his/her required beginning date at the time of their death, the IRS just provided another year of waiving their annual required minimum distribution.

Estate planning means planning ahead. Each individual’s applicable exemption amount that is used to shelter their transfers from the federal gift, estate, and generation skipping tax will increase come 2024.

A trust beneficiary’s power of withdrawal is treated as a general power of appointment for tax purposes.