Resources - Kemp Klein

INSIGHTS

Resolving Conflict Outside of Court

The high cost of litigation and number of cases flooding the courts have many judges and attorneys using alternative dispute resolution (ADR) to significantly cut costs and improve the efficiency of the court system. Clients whose cases qualify for this process often find it simpler and easier than facing off in the courtroom.

Digital Legacies: A Modern Necessity in a Digital World

Have you ever wondered what will happen to your accounts and photos when you pass away? How will loved ones communicate about your passing, access photos of you, or wrap up unfinished business?

What Happens to Your Monthly Income If You Go Into A Nursing Home?

Unfortunately, we face an increasing risk of spending some part of our lives living in a nursing home. What most of us don’t know is what happens to one’s monthly Social Security and pension checks once the person uses up all of his or her assets.

Save the Date – 2023 Kemp Klein Charity Golf Outing

On August 28, 2023, The Kemp Klein Foundation will host its 2nd Annual Charity Golf Outing at Boulder Pointe Golf Club in Oxford, Michigan. Proceeds will benefit SAY Detroit.

Kemp Klein Donates No-Sew Blankets to Common Ground

The attorneys and staff of Kemp Klein have come together to craft hand-tied fleece blankets for Common Ground’s clients. This is the fourth blanket making event that Kemp Klein has held.

Eighteen Kemp Klein Attorneys Recognized by U.S. News Best Lawyers in America

Eighteen of the firm’s lawyers have been included in the 2023 edition of U.S. News – Best Lawyers^® in America in a variety of different practice areas. These attorneys are recognized for professional excellence with impressive ratings from clients and peers.

CLIENT SUCCESS STORIES

Ronald S. Nixon Wins Appeal in Favor of Charities

Upon his death, Raymond Rech’s trust gave three-quarters of his multi-million-dollar estate to three charities. The remaining quarter was held in trust to support his sister during her lifetime, after which the trust stated the remainder should be divided equally between the three charities.

Rolfe and Callahan Save Client Over $800,000

A new client recently came to Kemp Klein with the intention of updating their estate plan following the passing of a spouse. However, in the process of reviewing the client’s trust accounts, attorneys Brian Rolfe and Casey Callahan discovered a technical error in the retirement account beneficiary designations made by a previous financial advisor.

Zawideh Successfully Defends Son’s $2.1 Million Inheritance

After the father’s passing, the daughter, using a Durable Power of Attorney filed suit on behalf of her mother against Mr. Zawideh’s client, another son, and their company, seeking recovery of over $4.85 million.

PROBATE LAW CASE SUMMARIES

In Re Howe Estate

Objection to Fees / Necessity of Hearing / Disqualification of a Judge / Resignation of Personal Representative / Conditioning Right to Investigate / Circut Judge Transfer to Probate Court / Discretion / Security for Costs / Judicial Notice / Court Discretion.

In Re Murray Estate

The Validity of a Marriage. Appellant claim to real estate.

In Re Broemer Estate

In re Broemer Estate/Failure to Object/”Essentially” Same Allegation/Plaintiff Error – Substantial Rights.

NEAL NUSHOLTZ TAX LAW ARTICLES

Restitution in Criminal Tax Cases and IRS Tax Assessments

A decedent’s will can control whether a personal representative should or should not pursue assets that had been transferred outside of probate, and, as required by law, use those assets to pay creditors and allowances of family members. Under IRC §6897, when someone is in possession of more than $10,000.00 in cash and the owner is unidentified, the IRS can make an immediate assessment. Under IRS §6851, when the IRS determines that a taxpayer designs quickly to depart from the United States or to remove his property therefrom, “the IRS may make a termination assessment by closing out the tax year, immediately assessing a tax liability and then collecting it. Think of a prizefighter from another country who is about to escape with his untaxed winnings.

Soaking Up Surplus Basic Exclusion Amounts

The basic exclusion amount (“BEA”) is the dollar size of a taxable estate above which there is a 40% tax. Gross estates worth less than the BEA need not file an estate tax return. The current BEA is temporarily $12,920,000. If Congress does nothing before 2026, the BEA will drop in January of 2026 to $5 million adjusted for inflation from 2016. Still, Congress could make the BEA into any number, even one larger than the current $12.9 million. As advisors, we need to plan for the uncertain BEA.

The Debt Ceiling Fight Can Affect the Outcome of Future Court Decisions in Federal Tax Cases

Lately, inflation has put upward pressure on wages. The debt ceiling fight is putting downward pressure on salaries paid by the U.S. government. That combined dynamic could influence federal judges to make pro government decisions in tax cases so that revenues will increase in the long term.