Technically speaking, Michigan still retains an inheritance tax and an estate tax in its statutes, but neither tax would apply to anyone who died today.An inheritance tax is a levy assessed upon a beneficiary receiving estate property from a decedent. The amount of...
Month: January 2018
Video Wills in Michigan: Are They Enforceable?
A common trope in cinema for will readings is to have the decedent's surviving family appear in a lawyer's office, that attorney puts a video into the DVD player, and the decedent appear on a TV screen to personally address the beneficiaries and tell them what their...
Michigan Legislature Overrides Governor’s Veto to Accelerate Tax Relief
On January 17th, 2018, the Michigan Senate and Michigan House of Representatives overrode Gov. Rick Snyder's veto on a tax bill aimed to provide relief to Michigan taxpayers.The issue at stake is the amount of sales tax that a Michigan resident would pay on the...
The Price of Probate: How Much Are Inventory Fees In Michigan?
An inventory fee is the amount charged and collected by Michigan probate courts as an expense of administration on the value of the estate assets. Michigan's Estates and Protected Individuals Code provides a formula for how large this fee will be depending on the...
Changes In Federal Gift and Estate Taxes In 2018
On December 22nd, President Trump signed the Tax Cuts and Jobs Act of 2017 (hereafter "the Act") into law which affected nearly all aspects of the Internal Revenue Code. While the president was not able to totally fulfill his campaign promise to completely eliminate...
Killers Don’t Collect: Michigan’s Slayer Statute Applies After Arson and Involuntary Manslaughter Convictions
The Michigan Court of Appeals upheld an Oakland County probate judge in Estate of Maxine Hadley, unpublished per curiam opinion of the Court of Appeals, issued December 21st, 2017 (Docket No. 332888) and ruled that a son should not inherit after committing a...
Help, I Can’t Find My Mom’s Last Will and Testament! (5 Hints to Locate It)
A few times a month, I get phone calls to my office from people who recently lost a family member and are having trouble locating the will. In the midst of grief, a misplaced will presents a significant obstacle for loved ones attempting to settle the decedent's final...
Alimony After The Tax Cuts and Jobs Act of 2017
On December 22nd, President Trump signed the Tax Cuts and Jobs Act of 2017 into law and introduced sweeping changes to the Internal Revenue Code. One of the more stunning modifications has to do with the tax treatment of alimony and spousal support payments. ...
