Judgment Entered Against City and 2 Police Chiefs in Duringer v Morro Bay #2A Victory
My recent post Victory for #2A in Duringer v Morro Bay gave little detail, but i can now report judgment was entered today in favor of Plaintiff David R. Duringer (that’s me!) jointly and severally against all three defendants: the City of Morro Bay; former...Study: Armed Citizens Beat Police at Stopping Mass Shootings
A new study by Lott and Moody shows that armed citizens are much more effective than uniformed police at stopping potential mass shootings. The study concluded: The results favor intervention by armed citizens. Unlike uniformed police officers, armed citizens are...Security Trusts for UHNW and ULNW Families
The recent shooting of a healthcare CEO has promoted increasing discussion of new security protocols among ultra high net worth (UHNW) families and their businesses, involving perhaps purpose-built security trusts funded with business interests, provisions in family...US Persons and Entities Now Exempt from Corporate Transparency Act BOI Reporting
Pursuant to new interim final rule issued by FINCEN on March 21, 2025, US persons and entities are now exempt from Beneficial Ownership Interest (BOI) reporting under the Corporate Transparency Act. Aside from being extremely burdensome and vague in some cases, the...Will Concealed Carry Insurance Protect You?
Will concealed carry insurance actually protect you and your family? There are concerns (for example, see thread here) where policies may not be delivering as expected. You have to read proposed policy language carefully to see what is covered and what is excluded....Victory for #2A in Duringer v Morro Bay
Victory for the Second Amendment in Morro Bay today as Plaintiff David R Duringer files acceptance of Defendants’ FRCP Rule 68 Offer of Judgment in favor of Plaintiff in his federal case, Duringer v Morro Bay et al. More details to follow and an update will be...Fifth Circuit Vacates Stay on Injunction Against CTA
The Fifth Circuit on December 26 vacated its December 23 stay of a Texas federal judge’s injunction against Corporate Transparency Act (CTA). Although the merits panel still has the matter set for expedited appeal to the next available oral arguments panel,...Succession Fail as Lack of Trust Protector Dooms Murdoch Plan to Control Woke Kids
As my practice matures and I take on more high-net-worth clients, it’s amazing how poor the estate planning is among some of these families. Sometimes, there is no planning at all! In other cases, there is very simple cookie-cutter planning, which is always bad...Atty Dave Duringer on Hometown Radio with Dave Congalton KVEC 920AM 20241203
Texas Federal Court Issues National Injunction Against CTA!
A Texas federal court has just saved a zillion businesses (and family trusts and mere holding companies) the effort of complying with the onerous filing burden under the draconian, oppressive, vague and unconstitutional Corporate Transparency Act (and zillions more...Noisome, Walz, Whitmer, other Dem Guvs Escape Scrutiny Given Cuomo for COVID Nursing Home Deaths
Health care planning is one of the most important concerns of comprehensive estate planning, often overlooked or given short shrift by simpler estate plans. There has been a great deal of attention given to former New York Gov. Andrew Cuomo’s ordering elderly...TAX.GD updated with IRS Inflation Adjustments for 2025
The IRS has released Revenue Procedure 2024-40, which specifies annual inflation adjustments for tax year 2025. Some highlights: Gift, estate and generation-skipping transfer tax exemption amounts: $13.99 million (up from $13.61 million) Annual gift tax exclusion (IRC...Charitable Remainder Trust (CRT) and other Charitable Planning
Charitable Remainder Trust (CRT) planning can be quite complex, and the expenses involved usually are justified only with a very large gift to charity, well north of a million. Practically speaking most of this planning is tax-driven and must be to make it feasible,...Yes California, BDOT can Yield Better Asset Protection
There seems to be a misconception among some California estate planning attorneys that BDOT planning (BDOT stands for Beneficiary Deemed Owner Trust; also called a 678 trust, named after IRC §678) is inconsistent with, and should never be used with, a trust designed...Firearms and the California Uniform Directed Trust Act
At the beginning of this year, the California Uniform Directed Trust Act (CUDTA) went into effect, codified in Probate Code §§ 16600-16632. It was a long time coming, having been first proposed back in 2010 by our state bar’s trust and estate section. When it...Gun HEET Revisited
Six years ago I posted this article proposing use of an advanced planning technique known as the Health and Education Exclusion Trust (HEET) to leave a dynastic legacy of firearm training. Such a trust might be called a Gun HEET. The Fall of the Republic and...What You Give Up with a Local Estate Planning Attorney
[Central Coast residents: You can safely ignore this article because we are here to help you with comprehensive planning.] Most of our local clients prefer to have the first meeting in person at our office in Morro Bay. After that initial meeting, many of these local...IRS Allows Late Filing of QSST Election (PLR 202428003)
Under Private Letter Ruling 202428003, the IRS has allowed late filing of a Qualified Subchapter S Trust (QSST) election, to obtain relief from termination of S corporation status. The corporation represented that the termination was inadvertent and not for tax...Pet Trust can Protect Your Pets from Inflation, Haitian, Asian Threats
To you, your pet may be “Fluffy”. To someone else, your pet may be dinner. How big is the threat posed by Asian or Haitian cuisine? Probably not huge, depending where you live. But inflation is a huge threat, affecting everyone to some degree, including...Estate Reduction Surgery (SLATs, etc.) May Be Urgent
Estate reduction surgery may be more urgent than you think. Understandably, a lot of folks are sitting on the sidelines, waiting to see what happens in November — not only in the presidential race, but in the congressional races that will determine the balance...Buying a Business with Real Estate
Buying a business and purchasing real estate are two very different investments. Business ownership typically requires some management skills and knowledge about market conditions, consumer trends, staffing, and finances. Ownership of real estate, on the other hand,...Hiring Family Members to Work for Your Business
The decision to hire family members for your business is a delicate balancing act that involves both personal and professional considerations. Working with loved ones can create a sense of trust and unity within the workplace and has been shown to increase business...Exit Strategies for Business Owners
Starting a business requires a great deal of planning and execution. Exiting from your small business should entail a similar level of forethought and preparation. Nevertheless, some surveys indicate that nearly half of business owners have no exit strategy.[1] After...Updated I-9 Requirements: Remote Verification of Employees
Remote work has become the new norm for many employees, creating opportunities as well as challenges for employers. One of those challenges is verifying the identity and eligibility of remote workers for employment in the United States. Form I-9,[1] a document all...Why Are Corporate Formalities Important?
Limited liability is an important advantage provided by corporations and limited liability companies (LLCs). The personal asset protection that corporations and LLCs provide for their owners, however, is not absolute. To maintain the liability shield, owners must...Should You Form More Than One LLC for Your Business?
There is no law that limits the number of LLCs an entrepreneur can own. Forming multiple LLCs may make sense under certain circumstances: for example, companies that have several rental properties, separate businesses with common ownership, or when one business makes...What to Do If Your Business Is in Distress
Increasing costs and rising interest rates have impacted many businesses. If your business is in crisis, there are steps you can take that could improve your business’s financial condition and help it successfully move forward. Entrepreneurs are competent, but they...What You Need to Know about Equipment Leases
Equipment leasing is an alternative to purchasing new equipment. Amid volatile interest rates and inflated equipment costs, more businesses are turning to leases as they look for ways to preserve cash while acquiring the equipment they need to operate. Equipment...Can You Draft Your Own Contracts Using AI?
Written contracts are the backbone of business relationships. They outline the rights, obligations, and expectations between parties and provide a legal framework that ensures parties keep their promises. Absent written contracts, business relationships are less...What Is an LLC Distribution?
A distribution from a limited liability company (LLC) is a payment of cash or property made by an LLC to the LLC’s owners, also known as members. Although state law sets forth certain default rules, LLC members can specify in the LLC’s operating agreement when and how...Should You Convert Your Sole Proprietorship to an LLC?
When you are first starting a business, operating it as a sole proprietorship may make a lot of sense. Sole proprietorships are simple and inexpensive to set up and maintain: they are operated by a single taxpayer and are the most common form of business organization....Ninth Circus Panel Suddenly Bans Licensed Carry, Agrees Much of California is a Sensitive Place
The Ninth Circuit panel in the May and Carralero (“May v Bonta”) sensitive places cases yesterday issued its opinion, written by Judge Graber (i promise to refrain from adding another b to her name), which, if not soon corrected by en banc ruling (either...The Fatted Calf Trust
I’ve written several times lately on disinheritance and more benign alternatives to disinheritance. There is definitely a trend afoot toward greater disinheritance. I’ve noticed this trend in comments from colleagues on our estate planning attorney online...Is your Trust a Parachute or merely a Safety Net?
There is a wonderful recent story about a Minnesota family that has baptized 27 babies over three generations with a baptismal gown made from the World War II parachute that saved grandpa’s life! I’m always coming up with analogies for trusts and often use...Brother of Terri Schiavo Warns Against Weakened Catholic Teaching on Basic Care
The brother of Terri Schiavo, famous in the estate planning world for issues surrounding her diagnosis of Persistent Vegetative State (PVS), is warning of a possible weakening in Catholic teaching in favor of providing basic care for the incapacitated. The brother,...Ahem… American Housing and Economic Mobility Act of 2024 (AHEMA)
The American Housing and Economic Mobility Act of 2024 (AHEMA) is a giant $5 trillion tax increase now before both houses of Congress which has the potential, if Democrats end up with enough control after elections this year, to radically change estate planning. These...Take an Estate Plan Test Drive
Unfortunately, you really do not know exactly how well your estate plan will work until after you are gone. No way around that, but you can improve chances with thorough comprehensive planning and a good maintenance plan. And there is something else you can do: You...How Businesses Can Plan for Sunsetting TCJA Provisions
The Tax Cuts and Jobs Act (TCJA) of 2017 made several significant changes to the tax code that affect small businesses and business owners. It introduced the qualified business interest deduction, added a bonus depreciation deduction for qualifying property, and...Tax Deductions for Home-Based Businesses
The rise of home-based businesses represents a fundamental shift in the way Americans work. Home businesses offer their owners a convenient and flexible way to earn income without commuting to a traditional office. They may also qualify for tax breaks in the form of...Intellectual Property Basics for Businesses
Intellectual property (IP) is the driving force behind many of the world’s most innovative and successful businesses. IP rights—including patents, copyrights, and trademarks—protect intangible assets and help companies and individuals profit from the fruits of their...US Supreme Court Rejects Use of Corporate Redemption Obligation as Estate Deduction
In a major unanimous decision (Connelly v US) sure to cause revision of many business succession plans, the US Supreme Court earlier this month on June 6, 2024, rejected use of a corporate redemption obligation as an estate deduction. While the Court pointed out in a...Trump Voters (59%) Far More Likely Than Biden Voters (19%) to Prioritize Marriage and Children, Poll Finds
A new Pew poll finds that Trump voters are FAR more likely (59%) than Biden voters (19%) to say that society should prioritize marriage and having children. That the rate is higher among Trump voters should not surprise anyone. I’ve definitely noticed a...As Your Kids Consider Sterilization, Incentives Can Make a Vas Deferens
Increasingly, young adults are choosing permanent sterilization. Your estate plan can punish them for doing so. (Or reward them, whatever.) Not talking about transgender surgery. Big sterilization issue there obviously, but that was the subject of another recent post....Suicide Risk Doubles with Transgender Surgery
California men who undergo transgender surgery (removing male genitals and replacing with something else) double their risk of suicide. How long will we continue to allow this demonic, macabre nonsense? Most children confused about what sex they are, grow out of that...Ayn Duringer Headed for Law School, Aims for Top Tax Program
My daughter, Ayn, will be heading for law school this Fall! She was offered a very nice package covering most expenses of attending the Levin College of Law at the University of Florida in Gainesville. Most estate planning attorneys like me, especially those of us...Corporate Transparency Act (CTA) Ruled Unconstitutional
National Small Bus. United v. Yellen, No. 5:22-cv-1448-LCB (N.D. Ala. Mar. 1, 2024) On Friday, March 1, 2024, in National Small Bus. United v. Yellen, Judge Liles C. Burke of the United States District Court for the Northern District of Alabama ruled via memorandum...Economic and Legal Considerations for Short-Term Rental Businesses
Platforms such as Airbnb and VRBO have disrupted an industry once dominated by hotels and resorts, allowing individuals to open their homes and residential properties to travelers. The boom in short-term rentals has created new opportunities for investors who want to...Changing Your Business’ Legal Structure
Over time, your business can undergo significant changes. What may have started as a humble, one-person operation can grow into a more complex company, with multiple owners, employees, an evolving mission statement, and increasing risks. As the scope and goals of your...What Is Due Diligence When Buying a Business?
Due diligence is the process of obtaining and verifying information about a company or person in preparation for a business transaction, such as an acquisition, merger, or potential new business partner. Generally, due diligence provides information about the company...
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