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Disclaimer of Estate or Trust Interest
Persons often decide to disclaim an interest in a trust or an estate. Several common examples are: In situations like these, one or more beneficiaries may want to disclaim an interest. Michigan law provides for a disclaimer of an interest. The laws are found at MCL 700.2901 through MCL 700.2912, inclusive. A disclaimer acts as…
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The Special Needs Trust Improvement Act of 2022 – a chance to benefit charitable organizations after your loved one is cared for
A new avenue has opened for those who want to not only care for their loved one affected by disability, but also support the charitable organizations that are so vital for their loved one’s care. The Special Needs Trust Improvement Act of 2022 now allows for a charitable organization to be designated as the remainder…
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Special Needs Trust – Charitable Beneficiary Now Permitted
You can now have an irrevocable special needs trust that has a charitable remainder beneficiary without the traditional concern about that donation affecting the term over which funds must be taken. Historically, inherited retirement funds are required to be withdrawn over a ten year period. However the Federal Secure Act (now the 1.0 version) made…