by Dave Duringer - Protective Law Corp | Feb 28, 2018 | Asset Protection, Tax Planning
In addition to changes in life insurance purchase reporting requirements and basis calculation, the recent Tax Cuts and Jobs Act brings the following changes to life insurance planning: The doubling of the estate tax exemption will eliminate the need for most...
by Dave Duringer - Protective Law Corp | Feb 14, 2018 | Family Protection, Health Planning, Incapacity Planning
Why is it that Muslim countries seem to figure so prominently in black market organ trafficking, and human trafficking in general? Non-consensual spinal tap — more reason to have a good health care directive these days. Pakistani police have arrested four...
by Dave Duringer - Protective Law Corp | Jan 26, 2018 | Archived, Asset Protection, Estate Planning, Property Tax, Tax Planning
One of the hidden costs of cheap estate planning is the unexpected and very unpleasant surprise of property tax reassessment. We’ll focus on this topic at our Family Protection Clinic (aka estate planning seminar) lunch meeting on Tuesday, March 27, 2018. (Our...
by Dave Duringer - Protective Law Corp | Jan 25, 2018 | Archived, Asset Protection, Death Tax, Estate Planning, Family Protection, Firearm Legacy, Income Tax, Tax Planning
When it comes to taxes and gun control, it’s hard to keep up with Sacramento and DC. One way is to have your estate planning attorney on speed dial. A smarter way is to have that attorney draft with flexibility in mind, so you can have peace of mind. We’ll focus...
by Dave Duringer - Protective Law Corp | Jan 24, 2018 | Archived, Estate Planning, Health Planning, Incapacity Planning
When you are down for the count, who will be calling the shots for you? You can control what happens, if you know about advance health care directives. We’ll focus on this topic at our Family Protection Clinic (aka estate planning seminar) lunch meeting on...
by Dave Duringer - Protective Law Corp | Jan 14, 2018 | Archived, Asset Protection, Blended Families, Bloodline Protection, Estate Planning, Family Protection
Often when I meet with blended families, they already sense the need for special planning due to their situation but are not aware of the many alternatives. Traditional families often overlook the very significant possibility, even probability in many cases,...
by Dave Duringer - Protective Law Corp | Jan 14, 2018 | Archived, Asset Protection, Creditors & Predators, Estate Planning, Spendthrift Children
You’ve heard a lot about asset protection in recent years — why so much talk about asset protection? We’ll focus on this topic at our Family Protection Clinic (aka estate planning seminar) lunch meeting on Tuesday, January 30, 2018. (Our weekly seminar...
by Dave Duringer - Protective Law Corp | Jan 13, 2018 | Archived, Asset Protection, Creditors & Predators, Estate Planning, Income Tax, Retirement Planning, Spendthrift Children, Tax Planning
For many families, a large portion of the estate rests in a retirement plan which, on its own and without further planning, is essentially a separate estate plan with assets left completely unprotected. How do you protect and preserve the inheritance of retirement...
by Dave Duringer - Protective Law Corp | Dec 27, 2017 | Death Tax, Estate Planning, Gift Tax, Tax Planning
Under either formulation of purpose, that is, the “unified” approach or the “fairness” approach, in issuing its regulations, the IRS would be compelled to use the basic exclusion amount in effect the time of the decedent’s death for purpose of computing the...
by Dave Duringer - Protective Law Corp | Dec 23, 2017 | Asset Protection, Death Tax, Estate Planning, Gift Tax, Income Tax, Tax Planning
The Tax Cuts and Jobs Act((In both the House and Senate versions, the bill was called the “Tax Cuts and Jobs Act.” Due to a last-minute change in response to a procedural issue, the official title was changed to “To provide for reconciliation pursuant to titles...
by Dave Duringer - Protective Law Corp | Dec 21, 2017 | Death Tax, Estate Planning, Firearm Training, Tax Planning
The expected new Tax Cut and Jobs Act (not the official title anymore, but i’m sticking with it) doubles the applicable exclusion amount for estate tax but reverts to current law on January 1, 2026. That sunset provision reminds me of this funny old video...
by Dave Duringer - Protective Law Corp | Dec 8, 2017 | Asset Protection
America is more British than modern day Britain. British lords seized power from King John in 1215, forced him to sign the Magna Carta allowing a right to bear arms and the militia ethic was borne in the English-speaking world. But the Brits killed their own militia...
by Dave Duringer - Protective Law Corp | Dec 4, 2017 | Asset Protection, Creditors & Predators
UVTA is an attempt by trial lawyers and pointy-headed liberal law professors to resolve conflict of laws in favor of the state from which transfers are made, effectively ending asset protection as we know it. This is obviously not supported by our legal...
by Dave Duringer - Protective Law Corp | Dec 3, 2017 | Asset Protection
This should be an interesting case to watch, depending on the timing of the transfer to trust and his solvency at that time. Not sure, but i believe Massachusetts has yet to pass the Uniform Voidable Transactions Act, a variant of which California passed...
by Dave Duringer - Protective Law Corp | Nov 25, 2017 | Estate Planning, Tax Planning
Don’t just sit there, plan but plan flexibly! Article here: Your clients may think that their best course of action is to hold tight until the political landscape becomes clear. This is an attitude that could cost them. Now is not the time to wait for...
by Dave Duringer - Protective Law Corp | Nov 25, 2017 | Asset Protection, Business Succession, Creditors & Predators, Estate Planning, Family Protection, Tax Planning, Venture Protection
Some of the reasons listed here: Despite the proposed high estate, GST and gift tax exemptions and whether there’s repeal, trusts will remain extremely popular for many non-tax reasons, including: family governance/succession/education; ability to override the...
by Dave Duringer - Protective Law Corp | Nov 23, 2017 | Asset Protection, Creditors & Predators, Spendthrift Children
A huge sea change in California asset protection law is sending assets to sanctuary states, like Nevada, more willing to protect those assets than creditor-friendly California. That other states better protect funds in self-settled trusts is old news. Many states,...
by Dave Duringer - Protective Law Corp | Nov 4, 2017 | Death Tax, Tax Planning
So far, the House GOP’s proposed tax plan avoids the carryover basis regime that would have been necessary if it would have imposed a capital gains tax at death to replace the estate and generation skipping transfer taxes, as the Trump campaign seemed to favor....
by Dave Duringer - Protective Law Corp | Oct 2, 2017 | Asset Protection
Story here reminds us that OJ Simpson is suspected of squirreling away millions in offshore accounts. (One of OJ Simpson’s pals seems to have spilled the beans in a recording seconds after Simpson’s ill-fated robbery in Vegas. Cook believes it is possible...
by Dave Duringer - Protective Law Corp | Aug 27, 2017 | Health Planning
My suggestion, for anyone wishing to go as far as DNA testing to be sure of the identity of remains, is to avoid cremating those remains. The couple has since received a new box that the crematory said is their daughter ashes, but they hope a DNA test can...
