The Good, The Unknown and The Ugly. Changes to Individual Retirement Accounts and 401 (k) plans were passed recently by the United States Congress. Pending since early summer of 2019, the legislation was attached to the updated budget bill and signed by President Trump. A number of provisions went into effect on January 1, 2020.
The Michigan Supreme Court has adopted significant changes to the Michigan Court Rules. The Rules go into effect on January 1, 2020 and considerably change the way cases are litigated.
Anyone with an Estate Plan which hasn’t been reviewed for the past five years may want to take some time now to revisit those documents, as well as the titling of assets and beneficiary designations.