New Tools for Asset Protection and Estate Planning
Individuals in Michigan seeking to protect assets from creditors no longer have to transfer their assets to Delaware, Nevada or Alaska. Effective February 5, 2017, the Qualified Dispositions in Trust Act, Domestic Asset Protection Trusts, Public Act 330 of 2016, will allow the owner of trust assets to retain and protect his or her assets from creditors, while still retaining the power to direct investment decisions, the power to veto distribution
Many high income earners believe that they cannot contribute to a Roth IRA. This is because they are unaware of the loophole they can use by contributing through the backdoor.
The Michigan Elder Law Blog 