On Monday, December 23rd, a federal appeals court issued a ruling reinstating reporting requirements under the Corporate Transparency Act (“CTA”), with the Treasury Department’s FinCEN extending key deadlines to accommodate the recent legal uncertainty.
Last week, the US District Court for Eastern District of Texas ruled on reporting under the Corporate Transparency Act, issuing a nationwide injunction against its enforcement. The CTA otherwise required entities to report Beneficial Ownership Information on or before January 1, 2025. While this injunction is not permanent, we will suspend filings for companies until the injunction is overturned on appeal.
Kotz Sangster Wysocki P.C., a leading business law firm based in Detroit, has announced that attorney Douglas Eyre has joined the firm in its Detroit office. Eyre is a seasoned attorney, bringing over 20 years of experience in construction law and commercial litigation to the firm.
A Revocable Living Trust is an agreement that determines how a person’s property is to be managed and distributed during his or her lifetime and upon death. A “Trust” normally involves three parties: the Settlor or Grantor, the Trustee, and the Beneficiary.
Benefits to having a Revocable Living Trust include:
Having a “Trust” prepared is part of a comprehensive estate plan. For a complete overview, read more here.