Now is not the time to be complacent about your estate planning and business succession planning.
Here are just a few examples:
Michigan will have a new Trust code on April 1, 2010, which affects every trust and will. This means that every one should have their estate and business planning reviewed to make sure the plan will still work.
Federal estate tax law expired 12/31/2009, and the current law faces a retroactive law change sometime in 2010. And do not forget that the capital gains taxes and possible retirement taxes could change a lot. So a current review is in order.
Financial planning should now include a review of Roth IRA planning. Check with your financial planner now.
A review now can keep your planning current and put you in a position to adjust in the case many of these laws are changed. If you keep control over this planning and watch for changes, you will be good position to make the necessary changes to protect your family and business.
Stay tuned, this could be quite a ride.
Legal Solutions for a Changing World
Jerry
January 2010
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Law Offices of
Jerome P. Reif, P.C.
4905 Berl Drive, Ste 100
Saginaw, MI 48604
E-mail: jerry@jerryreiflawyer.com
989-790-1461
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