by Dave Duringer - Protective Law Corp | Jun 28, 2022 | Asset Protection, Blog, Bloodline Protection, Business Succession, Buying or Selling a Closely Held Business, Career Preparation, Estate Planning, Family Maintenance, Family Protection, Financial Mentorship, Fortune, Honor, Incapacity Planning, Operation & Governance, Venture Protection
Benjamin Franklin famously quipped, “If you fail to plan, you are planning to fail.” From the very beginning, you had a plan for your business to succeed. You set goals and developed methods to achieve those goals. Your business has stood the test of time because you...
by Dave Duringer - Protective Law Corp | May 26, 2022 | Asset Protection, Blog, Bloodline Protection, Career Maintenance, Career Preparation, Creditors & Predators, Estate Planning, Family Maintenance, Family Protection, Financial Mentorship, Fortune, Honor, Life, Religious Faith, Spendthrift Children
I stole the title of this post from a great Babylon Bee article that just came out. For those who don’t know, Babylon Bee is satire. Strangely, their satirical articles often do come true. And this particular title hews closely enough to family settings often...
by Dave Duringer - Protective Law Corp | Jan 14, 2018 | Archived, Career Maintenance, Career Preparation, Charity, Estate Planning, Family Maintenance, Family Protection, Financial Mentorship, Firearm Legacy, Pet Protection, Punishment, Religious Faith
The term “family protection” is used in many different contexts. For example, in insurance planning it often refers to the concept of “income replacement” for a family bereft of its primary breadwinner. What should “family...
by Dave Duringer - Protective Law Corp | Jul 22, 2017 | Career Maintenance, Career Preparation, Estate Planning, Family Maintenance, Family Protection, Financial Mentorship
The starting point for dealing with wealth disparity is having a common understanding of what family means for this generation and developing a shared vision for how to be a family in the future. This shared vision, based on the identification of shared values...
by Dave Duringer - Protective Law Corp | Jul 22, 2017 | Career Maintenance, Career Preparation
Ready for labor…and defense? In their first job, 70% said they want stabilityHaving come of age at the height of the recent financial crisis, job security is top of mind for people in Generation Z, according to experts. As a result, some of their...
by Dave Duringer - Protective Law Corp | May 26, 2017 | Career Preparation, Family Protection, Financial Mentorship
“What spoils kids is not letting them taste the natural consequences of their mistakes. When we give them the impression that their choices don’t have natural, logical consequences and we rescue them from those — when we say, ‘Hey, you do that...
by Dave Duringer - Protective Law Corp | May 15, 2017 | Career Preparation, Estate Planning, Family Protection, Financial Mentorship
Yikes. If ever there was a need for financial mentorship, it’s now. And yes, you can do that with your estate plan. How millennials feel about money and financial issues, in eight charts Source: Millennial Money Matters
by Dave Duringer - Protective Law Corp | May 15, 2017 | Career Maintenance, Career Preparation, Charity, Estate Planning, Family Maintenance, Family Protection, Financial Mentorship, Firearm Legacy, Firearm Training, Punishment, Religious Faith
Some families construct a legacy of memories and real estate, say by buying a vacation property that is held in a trust or other structure so it is equally owned by all heirs. “That keeps it intact for at least another generation and ensures that it is not...
by Dave Duringer - Protective Law Corp | May 15, 2017 | Career Maintenance, Career Preparation, Charity, Estate Planning, Family Maintenance, Family Protection, Financial Mentorship, Firearm Legacy, Firearm Training, Punishment, Religious Faith
Great article. Personally, I call my practice “family protection” law and the author appears to be on the same page as me. In its most fundamental state, estate planning should support the family (or the individual) first, and thereafter concern...
by Dave Duringer - Protective Law Corp | May 15, 2017 | Career Maintenance, Career Preparation, Charity, Estate Planning, Family Maintenance, Family Protection, Financial Mentorship, Firearm Legacy, Punishment, Religious Faith
Among affluent families, the disconnect between what their current wealth transfer planning does, and what they want their planning to do, is staggering. While 75 percent of wealthy parents say it’s important to leave an inheritance to the next generation, only...
by Dave Duringer - Protective Law Corp | Apr 23, 2017 | Asset Protection, Career Preparation, Creditors & Predators, Estate Planning, Family Maintenance, Family Protection, Spendthrift Children
Are 72 virgins really enough? What if they turn out to be 72 Virginians? If you are bound and determined to blow yourself into smithereens or commit some other irrevocable act of terror, at least buy some life insurance so your (surviving) descendants can live like...
by Dave Duringer - Protective Law Corp | Apr 23, 2017 | Asset Protection, Career Preparation, Estate Planning, Spendthrift Children
Among 25- to 34-year-olds living at home, one in four is neither enrolled in school nor working Source: A Quarter of Millennials Who Live at Home Don’t Work — or Study – Bloomberg
by Dave Duringer - Protective Law Corp | Apr 21, 2017 | Asset Protection, Career Preparation, Retirement Planning
Parents of young children usually have more places that their money needs to go than they have funds to cover every current and future obligation. You can help them sort out where to put each and every dollar each month so that short-term concerns are...
by Dave Duringer - Protective Law Corp | Apr 20, 2017 | Career Maintenance, Career Preparation, Estate Planning, Family Maintenance, Family Protection
The Number 1 living arrangement today for Americans in the 18-to-34 age bracket, according to the Census Bureau, is to reside without a spouse in their parents’ home. Source: Census: More Americans 18-to-34 Now Live With Parents Than With...
by Dave Duringer - Protective Law Corp | Apr 11, 2017 | Asset Protection, Career Preparation, Creditors & Predators, Family Maintenance, Family Protection, Spendthrift Children
Regardless of the tax implications, there are several nontax reasons to set up a dynasty trust. First, you can designate the beneficiaries of the trust assets spanning multiple generations. Typically, you might provide for the assets to follow a line of...
by Dave Duringer - Protective Law Corp | Apr 8, 2017 | Career Preparation, Family Protection, Retirement Planning, Tax Planning
The kids can work their way through college like we did. ‘Should I dip into my retirement account to pay for college?’People do it, but most financial professionals advise against it. At the very least, experts say, you should limit such withdrawals, so as not...
by Dave Duringer - Protective Law Corp | Mar 28, 2017 | Business Succession, Career Maintenance, Career Preparation, Charity, Estate Planning, Family Maintenance, Family Protection, Financial Mentorship, Firearm Legacy, Pet Protection, Punishment, Religious Faith
Over the next 20 years, $30 trillion dollars could be transferred from the current generation to the next, making now a critical time for advisors to discuss multigenerational planning with high net worth clients. Along with planning for the financial...
by Dave Duringer - Protective Law Corp | Mar 20, 2017 | Career Maintenance, Career Preparation, Estate Planning, Family Protection, Firearm Legacy, Firearm Training
Green Berets rely on their problem solving abilities to survive in combat. Much of SF selection seeks to assess this talent and the Special Forces qualification course develops and improves creativity. Many times, military problems must be solved with the...
by Dave Duringer - Protective Law Corp | Mar 17, 2017 | Asset Protection, Career Maintenance, Career Preparation, Estate Planning, Family Protection
Higher education is in a bubble, and bubbles burst. Will it be as bad as the housing meltdown and financial collapse 2008-09? That’s hard to say. Mega-banks aren’t bundling and selling worthless college degrees; those losses are left to fall on individual...
by Dave Duringer - Protective Law Corp | Mar 17, 2017 | Asset Protection, Career Preparation
Just 2 percent of high school athletes snag sports scholarships at NCAA schools. Here’s how to guide parents convinced their child will get one. Source: Eight Things Clients Need to Know About Athletic Scholarships