House File 232, which was discussed in my article of last month was signed by the Governor on June 1, 2023. Said bill also amends Section 633.555 to provide that in situations where a conservator has not been appointed for a minor, property due to a minor, not exceeding the aggregate of $50,000.00, shall be…
More Legal News & Information... →
House File 232, which is currently before the Governor for signature, provides a mechanism whereby new trusts and existing trusts will have a new tool to obtain information from third parties. The new provision allows a Trustee to present a written request to any person for the purpose to obtain information required to perform the Trustee’s duties or any information on property owned by the Trust and which is owned by the Trust Settlor at the time of death, including information about the property that has passed or will pass by beneficiary designations or joint tenancy ownership. The request must
More Legal News & Information... →
The US House and Senate have passed a new stimulus bill which has been signed by the President. The new stimulus bill is over 5,500 pages in length. This article will deal with the provisions involving the PPP (Paycheck Protection Plan). The new bill contains provisions dealing with the deductibility of expenses paid with PPP funds. There is little coverage in the press regarding such provision. When the PPP program was first approved, it provided that the loans would be eligible to be forgiven by the SBA and that the forgiveness would not create taxable income. Soon thereafter, the IRS
More Legal News & Information... →