Missing a required minimum distribution (RMD) is not Armageddon. There still is hope.

SLATs make a lot of sense to remove assets and their appreciation from a taxable estate. You just have to be careful to avoid all of the ‘traps’ along the way.

The SECURE Act came into existence starting in 2020. We are still waiting for Final Regulations that will help to understand and provide guidance to individuals when it comes to taking required minimum distributions (RMDs.)

Michigan finally recognizes a silent trust, which may be appealing to some settlors, but it will probably not be a welcome option by trustees.

A Michigan owner of a 529 account who transfers ‘excess’ 529 funds to a Roth IRA may be subject to a state income tax recapture if their initial contribution to the 529 account created a state tax deduction or credit.

Starting in 2024 the SECURE Act 2.0 allows a rollover from a 529 account with ‘excess’ funds to a Roth IRA. As reported previously, there are several limitations to deal with before this new rollover opportunity and be exploited.

Naming a Trust as the IRA beneficiary may not always be the best choice for a retirement account owner.

Michigan’s more comprehensive durable power of attorney statute is effective come July 1, 2024.

The Court held that a corporation’s contractual obligation to redeem the stock of one of its shareholders was not a liability or debt.

There does not seem to be a consensus if a grantor Trust is to be treated as a separate legal entity or not. The Courts apparently are not really sure. This decision can have tax implications when a grantor Trust ceases to be a grantor Trust.