Business and Personal Income Tax Changes

The “Tax Cuts and Jobs Act” was approved by Congress and went into effect on January 1, 2018 making significant changes to business tax and personal income tax starting with the 2018 tax year. For businesses, the maximum corporate tax rate for C…
Categories: Business Law, Taxes

Update: Lifetime Estate and Gift Tax Exemption Amounts Doubled

As part of the Tax Cut and Jobs Act (the “Act”), passed in December of 2017, the lifetime exemption amount for estate, gift, and generation-skipping taxes was doubled. For 2018, the lifetime exemption amount for estate and gift taxes of $…
Categories: Estate Planning

2018 Estate and Gift Tax Exemptions

The IRS has announced the estate and gift tax exemption amounts for 2018. The lifetime exemption amount for estate and gift taxes is $5.6 million per individual.  That is an increase from $5.49 million per individual in 2017.  This means that an in…
Categories: Estate Planning

Prenuptial Agreements in the State of Michigan

For many years now Michigan has respected the right of marital partners to waive the statutory rights that are conferred upon them upon the death of a spouse.  For example, if a spouse dies and leaves by their Will all of their assets to their child…
Categories: Family Law

Plachta, Murphy & Associates' Attorneys in the News!

Here at Plachta, Murphy & Associates (“PMA”), we are always striving to provide the best service possible to our valued clients as well as serving our community.  Every so often, we get recognized for our efforts and we thought we…
Categories: Business Law, Elder Law

Seminar Alert: (Caregiver Seminar: Protecting Our Loved Ones and Ourselves)

Are you overwhelmed dealing with the legal, medical and physical needs of an aging parent or a medically challenged family member? Are you looking ahead to when you need to care for a family member and wondering how to prepare? You’re not alone. Th…

The Fiduciary Access to Digital Assets Act

  Effective June 27, 2016, the Fiduciary Access to Digital Assets Act (“the Act”) allows an individual to designate in their estate planning documents a fiduciary that is authorized to access their digital assets and computer devices.  This…
Categories: Estate Planning

The Funeral Representative Designation Act

Michigan has recently passed legislation that allows an individual to designate in their estate planning documents a “Funeral Representative” (“FR”).  Effective June 27, 2016, the Funeral Representative Designation Act (“th…
Categories: Estate Planning

Hiring Employees with Criminal Records

The U.S Equal Employment Opportunity Commission precludes an absolute bar to employment based on arrest records.  Similarly, courts have held the use of arrest records to disqualify a job applicant constitutes unlawful discrimination.  Therefore, w…
Categories: Employment Law

Seminar Alert: Employment Law A to Z

Name:  Employment Law A to Z Date: Monday, February 13, 2017 Time: 3:00PM to 5:00PM Overview: This workshop will cover all aspects of the employer and employee relationship.  It will present information on hiring and evaluating an employee, statuto…
Categories: Employment Law

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