by Dave Duringer - Protective Law Corp | Sep 16, 2016 | Asset Protection, Creditors & Predators, Estate Planning, Estate Tax, Gift Tax, Income Tax, Tax Planning
This is authored by Matt McClintock, VP of Education for WealthCounsel: I initially created this article as a resource for members of WealthCounsel, but we share it with the entire industry. To that end, I’m sharing this resource here and encourage attorneys and...
by Dave Duringer - Protective Law Corp | Aug 31, 2016 | Asset Protection, Creditors & Predators, Estate Planning, Income Tax, Retirement Planning, Tax Planning
If attacked, do you want to be Victor or Victim? At SacredHonor.US, we hate it when people die embarrassed. And at Protect.FM, we believe good estate plans protect families. We make it easy for your family to attain the comfort of skill at arms. David R. Duringer, JD,...
by Dave Duringer - Protective Law Corp | Aug 31, 2016 | Asset Protection, Creditors & Predators, Estate Planning, Gift Tax, Tax Planning
Conclusion In order to split gifts to a trust when Mom is a beneficiary of the trust, the gifts to children must be ascertainable and severable from gifts to Mom. Unfortunately, there is ambiguity in interpreting this phrase, but the Service seems to permit gift...
by Dave Duringer - Protective Law Corp | Aug 5, 2016 | Asset Protection, Creditors & Predators, Estate Planning, Family Protection
Some great info and advice here. Also some worthless psychobabble. In crafting an estate plan, many clients struggle with sleepless nights caused by wrenching emotional issues pertaining to their relationships with their children, their value systems, their...
by Dave Duringer - Protective Law Corp | Jul 26, 2016 | Asset Protection, Creditors & Predators, Family Protection, Financial Mentorship, Spendthrift Children
As parents, our clients want the best for their children, perhaps especially when those children become adults. Learning good financial habits can be central to a successful and independent adulthood. Yet, most young adults feel they’re thrown into the world without...
by Dave Duringer - Protective Law Corp | Jun 28, 2016 | Asset Protection, Creditors & Predators, Entity Formation, Income Tax, Tax Planning, Venture Protection
The IRS recently released temporary regulations clarifying that an employee of a disregarded entity is liable for self-employment tax if the employee is a partner in the partnership that owns the disregarded entity. See Treasury Decision 9766 (May 4, 2016). Source:...
by Dave Duringer - Protective Law Corp | Jun 23, 2016 | Asset Protection, Creditors & Predators, Estate Planning, Retirement Planning, Tax Planning
The beneficiary designations on financial accounts are crucial decisions that will impact the success of a financial or estate plan. Here are 10 common mistakes that advisors should discuss with their clients. Source: Photo Gallery: Top 10 Beneficiary Designation...
by Dave Duringer - Protective Law Corp | Jun 8, 2016 | Asset Protection, Creditors & Predators, Family Protection
News9.com – Oklahoma City, OK – News, Weather, Video and Sports | Yet another reason to avoid outright distributions in your estate plan: It’s called an ERAD, or Electronic Recovery and Access to Data machine, and state police began using 16 of them...
by Dave Duringer - Protective Law Corp | Jun 8, 2016 | Asset Protection, Creditors & Predators, Estate Planning, Spendthrift Children, Tax Planning
Here are the six primary benefits of a lifetime discretionary trust: 1. Protection From Liabilities An inheritance that goes directly into the beneficiary’s pocket is readily available to pay the beneficiary’s liabilities from a car accident, in bankruptcy, or after a...
by Dave Duringer - Protective Law Corp | Apr 15, 2016 | Asset Protection, Creditors & Predators, Income Tax, Tax Planning
http://leimbergservices.com/rss/Keebler-PLR201614007.mp3 The IRS has approved another non-grantor, incomplete gift trust. NINGs, DINGs, etc., are useful to avoid high state income taxes and are also useful for asset protection. See PLR 201614007. If attacked, do you...
by Dave Duringer - Protective Law Corp | Apr 12, 2016 | Asset Protection, Creditors & Predators, News & Commentary
Asset protection — nowadays, it’s not just for doctors and business owners: WASHINGTON (Reuters) – Law enforcement officers in the United States are increasingly buying professional liability insurance policies amid worries they may be sued for their...
by Dave Duringer - Protective Law Corp | Apr 12, 2016 | Creditors & Predators
Consider asset protection for surviving spouse and children, in your plan and that of your parents: Seniors are more likely to be targeted by fraudsters for a number of reasons. They tend to have more money saved up and they may be more vulnerable due to cognitive...
by Dave Duringer - Protective Law Corp | Apr 5, 2016 | Asset Protection, Creditors & Predators
Mossack created bespoke shell companies, often located in international tax havens like the British Virgin Islands, Panama and the Bahamas, for wealthy clients looking to house assets in secret. Transactions generally occurred through a series of intermediaries to...
by Dave Duringer - Protective Law Corp | Feb 10, 2016 | Asset Protection, Creditors & Predators, Retirement Planning
There are several states, notably California, that have become increasingly aggressive in pursuing traditional IRA assets in liability cases. Accordingly, investors should seek to keep as much as possible in segregated ERISA-sponsored retirement investments, as they...
by Dave Duringer - Protective Law Corp | Aug 18, 2014 | Creditors & Predators, Trust Admin
This content is for members only
by Dave Duringer - Protective Law Corp | Aug 18, 2014 | Creditors & Predators, Tax Planning
Asset protection is an important benefit an estate plan can provide for your family, but oftentimes there is no such planning with respect to retirement assets. This is why I have long encouraged clients to consider a separate “Standalone Retirement...
by Dave Duringer - Protective Law Corp | Aug 18, 2014 | Creditors & Predators, Tax Planning
Want to escape high state income taxes? On March 7 the IRS in PLR 201410010 approved another NING trust (Nevada Incomplete-gift Non-Grantor Trust), which is incomplete for transfer tax purposes while remaining a non-grantor trust for income tax purposes. This trust,...
by Dave Duringer - Protective Law Corp | Aug 18, 2014 | Creditors & Predators, Firearm Legacy, Spendthrift Children, Tax Planning
An irrevocable inter vivos trust (IRT) is a trust created during the settlor’s lifetime, over which settlor retains no power to alter, amend or revoke. Although RLT’s typically become irrevocable on the settlor’s death, they are not called irrevocable trusts. Trusts...
by Dave Duringer - Protective Law Corp | Aug 16, 2014 | Business Succession, Creditors & Predators, Limitation of Liability
Set up your business with tax planning, estate planning, asset protection, and family protection in mind. In this economy, you need every competitive advantage, and your competitors are not standing still when it comes to tax planning. Estate planning and business...