For those individuals born in 1951 who thought that they had to take their first required minimum distribution (RMD) starting in 2023, there is some relief, but only if they act by September 30, 2023.

Individuals who inherit IRAs need to promptly name successor beneficiaries to that IRA in order to avoid having their estate deemed the successor beneficiary.

While Michigan respects the creation and enforcement of an oral trust, there must be clear and convincing evidence of the trust’s terms, and other statutes, like the Statute of Frauds, override the oral trust statute.

The use of a corporate, or professional, trustee can go a long way to maneuver the minefield of family tension and dynamics on a family member’s death.

How society looks at undue influence is rapidly changing, perhaps much faster than how the law rigidly looks at undue influence.

It is probably a good time to revisit the qualified charitable distribution rules, now that there is a new ‘option’ to transfer a limited amount via a QCD to either a charitable remainder trust (CRT) or a charitable gift annuity (CGA.)

Distributions from a donor advised fund to a private foundation can change its nature to a public charity, thus circumventing the rigorous restrictions imposed on private foundations.

Sometimes an IRA rollover may not be the best decision for a retiring qualified plan participant.

The ability to make catch-up contributions to retirement accounts in 2024 is in jeopardy, and at present, no one appears to want to make it a priority to fix this problem.

Intra-family loans that use the AFR rate of interest is a great way to shift wealth gift tax-free. Intra-family loans can also be made interest-free, but then that causes a taxable gift to be made.