» Estate Planning

What Does Biden’s Tax Plan Mean for Step-Up in Basis?

During the 2020 presidential campaign, media coverage of the candidates’ tax plans was largely limited to income tax, most notably Joe Biden’s assurances that families earning less than $400,000 annually would not see their income tax increase. B… Read More
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Categories: Tax Planning

Working From Home: Tips for Success

Little more than a year ago, many people would have said that the opportunity to work from home sounded like a dream. One year into the COVID-19 pandemic, and working from home is a reality for many people. And while it may have seemed like a great n… Read More
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Take a Number: Important Tax and Retirement Planning Numbers for 2021

As you are probably aware, the Internal Revenue announces cost-of-living-adjustments (COLA) each year that increase the amount of certain tax deductions, thresholds, exclusions exemptions, and change contribution limits for retirement planning. If yo… Read More
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Prepaid Tuition or 529 College Savings Plan: Which is Best?

In the late 1970s, a student at a private college paid the modern equivalent of $17,680 per year to attend a private college. If that student went to a public college, total costs were just $8,250 per year. Fast forward 30 years, and those costs had… Read More
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Electronic Wills: Coming Soon to Michigan?

Technology has always changed the way people communicate and transact business, and in the past few decades, the pace of that change has only intensified. If you’re fifty years old, for example, you remember when research had to be done in a librar… Read More
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Categories: Estate Planning

Three Documents You Need During a Coronavirus Pandemic

The coronavirus pandemic that is encircling the globe caught most people by surprise. We haven’t experienced an outbreak like this in a century. Most people are scrambling to respond to the pandemic on a number of fronts: purchasing up on cleaning… Read More
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Categories: Estate Planning

Could Your Children Lose Their Inheritance in a Divorce?

If you have adult children, there’s a good chance that they are either married, or that they will be. Watching our kids grow up, find love, and start families of their own is one of the great joys in life. As a parent, you probably anticipate that… Read More
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Seven Year-End Tax Planning Tips for 2019

There are only a handful of days left in 2019, and while you may want to spend them making merry, you should devote at least a little time to brightening your tax picture for next year. When April rolls around (as it will, and sooner than you think),… Read More
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Categories: Finances, Tax Planning

How to Plan Your Funeral (And Why You Should Do it Now)

We have some bad news and some good news for you. The bad news is: you are going to die. The good news is, you probably have some time to plan for it. And for once, we are not talking about estate planning (though if you’re behind on that, you shou… Read More
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Categories: Estate Planning

How Do You Make a Valid Michigan Will?

A Last Will and Testament is the basic building block of an estate plan. Depending on your circumstances, you may need a living trust or another type of trust, and it is important to have a durable financial power of attorney and a medical power of a… Read More
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Categories: Estate Planning

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