Politics & Government
Lt. Gov. Brian Calley Signs Bill to Clarify Wills and Estates
The new law closes loopholes for family members, according to state Rep. Mark Ouimet, who authored the legislation.
Lt. Gov. Brian Calley signed into law legislation authored by Rep. Mark Ouimet that corrects a conflict regarding the estates of Michigan residents who died in 2010.
Public Act 303 removes a conflict that occurred in 2010 when the Legislature was forced to enact a measure because there was no federal estate tax law at the time. Shortly after Michigan acted, the U.S. Congress changed its law, and made it retroactive to Jan. 1, 2010.
"Michigan's laws regarding estates and trusts were unfortunately obsolete and not working properly for state residents," said Ouimet, R-Scio Township. "These reforms help fix the loopholes that were causing problems for surviving family members and trustees."
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Because the federal government had no estate tax law in 2010, the state Legislature at the time unanimously approved a measure specifying that anyone who died in 2010 and had an estate plan that referred to federal laws would be read according to the laws in effect in 2009.
The new legislation was approved in the Legislature with bipartisan support.
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Editor's note: This press release was submitted by state Rep. Mark Ouimet.
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