People often have ideas of how they would like their estate distributed or how personal matters should be handled upon their death, yet they are not always sure how to accomplish these goals.
A charitable remainder trust is an irrevocable trust that allows a donor to make a gift to a trust, then receive income from the trust during the donor’s lifetime.
If you die without an estate plan, your loved ones may have to go through the probate court process, wasting time and money.
Adam Keilen Estate Planning and Probate: Wills, Trusts, & Estates. Can a Trust own and manage my business? The short answer – yes, it can; however, there is more to…
Adam Keilen The Goal of an ILIT is to Avoid Inclusion in the Insured’s Gross Estate: For a typical life insurance policy, the death benefit proceeds are includible in a…
Adam Keilen Should I get a Trust? The short answer – it depends. There are several factors to consider; primarily, trusts help clients avoid probate (saving time and money), thereby…
Adam Keilen Startling Facts. Family run businesses make up a significant portion of the US Economy. Yet, merely 12% of family run businesses survive into the third generation. Thus, 88%…
Adam Keilen Decanting is the discretionary exercise of a fiduciary power to appoint assets in trust, meaning, under IRC 2652, to “effect an arrangement that although not a trust, has…
The Michigan legislature passed a new law that impacts the way Michigan residential property taxes are assessed. Proposal A went into effect in January, 1995, and limited the amount a…
Adam Keilen As of January 2, 2013, Public Act 552 of 2012 was signed and amends the law regarding asset exemptions, as they relate to creditors. The Act protects 529…