Team Fraser Trebilcock was busy last week, lacing up our sneakers to fundraise for a fantastic cause. Coaches vs. Cancer is a nationwide collaboration between the American Cancer Society and the National Association of Basketball Coaches. It’s often recognized by its “Suits and Sneakers” tradition, as coaches sport their sneakers during the week’s basketball games to promote cancer awareness and support for research.
We teamed up with Michigan State University and Coach Tom Izzo to participate, with all proceeds benefitting the American Cancer Society. Continue reading Fraser Trebilcock Teams Up with Michigan State University for Coaches vs Cancer
2014 PA 310, signed late last year, provides a number of new exemptions from the “uncapping” of a property’s taxable value upon transfer of ownership of residential real property to certain relatives, and even includes certain transfers from trusts and estates.
In general, under MCL 211.27a whenever a transfer of ownership of real property occurs, the taxable value of the property uncaps in the following year and is re-set at fifty percent of the property’s true cash value (i.e. the state equalized value). There are, however, a number of exemptions to the definition of a “transfer of ownership.” Continue reading New Exemptions from the Uncapping of the Taxable Value of Residential Real Property
The Shareholders of Fraser Trebilcock, one of Michigan’s longest-established full-service law firms, have re-elected Michael P. Donnelly as President of the law firm.
Shareholder Elizabeth H. Latchana has been newly elected to serve as Secretary, as outgoing Vice President Michael E. Cavanaugh steps down from his position on the Board.
The other officers re-elected for 2015 include Edward J. Castellani and Brian P. Morley as Vice Presidents, and H. Kirby Albright as Treasurer.
Reminder: Form W-2 Reporting on Aggregate Cost of Employer Sponsored Coverage
Unless subject to an exemption, employers must report the aggregate cost of employer-sponsored health coverage provided in 2014 on their employees’ Form W-2 (Code DD in Box 12) issued in January 2015. Please see IRS Notice 2012-9 and our previous e-mail alerts for more information.
For a helpful IRS link that includes a chart setting forth various types of coverage and whether reporting is required, click here. Please note this is a summary only and Notice 2012-9 should also be consulted. Continue reading Client Alert and Reminder: Form W-2 Reporting Due, Disclosure Due to CMS for Medicare Part D
Fraser Trebilcock Litigation Department Chair, Thad Morgan, recently prevailed in a case involving a question of coverage under a life insurance policy. The main question in the case was whether the insurer properly denied the claim and rescinded the policy based upon a misrepresentation in the insurance application. The court agreed that the misrepresentation was material and granted summary disposition in favor of the insurer.
Thaddeus E. Morgan is the immediate past president of Fraser Trebilcock and currently serves as the firm’s State Capital Group voting representative. Continue reading Litigation Department Chair Wins Life Insurance Policy Case
Retirement plans are subject to a very complex web of regulations governing their administration, and mistakes inevitably happen, even in the best-run plans. Recently, Brian Gallagher presented to Plante Moran on the various programs available for correcting such errors.
You can view the presentation here.
If your organization would be interested in a similar presentation, or if you have questions about correcting errors involving your own retirement plan, please contact Fraser Trebilcock Employee Benefits Attorney Brian Gallagher at 517.377.0886 or firstname.lastname@example.org.