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 | Dec 23, 2017 | Charity, Estate Planning, Family Protection
The end of the year means a drastic increase in philanthropic gifting. If any of your clients are considering charitable gifts this month through a private foundation, here are 10 precautions to advise them about: Article here.
by Dave Duringer - Protective Law Corp | Nov 25, 2017 | Charity, Family Protection, Financial Mentorship
More here: As with lottery winners and athletes who are in danger of spending significant portions of their new-found wealth in an instant, children who were raised with wealth must be properly prepared to handle affluence and their inheritance wisely Older...
by Dave Duringer - Protective Law Corp | Jul 22, 2017 | Charity, Estate Planning
Millennials care more about others than you might think. The 2015 Millennial Impact Report found that 84 percent of millennials made a charitable contribution in 2015.The truth is, millennials do care about things other than themselves, and they’re willing to...
by Dave Duringer - Protective Law Corp | Jul 22, 2017 | Charity, Estate Planning
Six Tests for Charitable DeductionSales for less than fair market value (FMV) to charities are deductible as the spread between FMV and amount realized.2 An Internal Revenue Code charitable deduction is permissible if six tests are met under Goldstein v....
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 24, 2017 | Charity, Estate Planning, Retirement Planning, Tax Planning
And for those with qualified retirement plans, it may be time to seriously consider charitable remainder unitrust (CRUT) planning. In the case of qualified long-term appreciated property, outright gifts can be used to offset other taxable income, while bypassing the...
by Dave Duringer - Protective Law Corp | Apr 5, 2017 | Charity, Dying Embarrassed, Estate Planning, Horror Stories
Tragic, tear-jerking story — but try as they might to cast her untimely death in the heroic cloth of charitable enterprise, there remains something embarrassing about dying while stuffing your mouth full of pancakes. Apparently according to the updated...
by Dave Duringer - Protective Law Corp | Mar 28, 2017 | Charity, Estate Planning, Gift Tax, Tax Planning
A GRAT must be drafted to comply with the requirements set forth in the applicable Treasury Regulations under Section 2702. Unfortunately, the regulations don’t resolve all issues, such as whether there’s a minimum or maximum term for a GRAT, or whether a GRAT...
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 23, 2017 | Charity, Estate Tax, Income Tax, Tax Planning
Charitable planning coordinated with dissolution planning merits serious examination. The work involved is well worth the effort to assure divorcing parties have maximized the use of all marital assets in a tax-efficient manner. The four techniques are...
by Dave Duringer - Protective Law Corp | Mar 16, 2017 | Charity
Risk is the likelihood of an undesirable outcome. Every action includes an element of risk.Philanthropy is no exception to this rule. In fact, charitable donations—because they seek to solve seemingly intractable problems—are often referred to as society’s...
by Dave Duringer - Protective Law Corp | Feb 26, 2017 | Charity, Estate Planning, Family Protection, Tax Planning
Over 2,300 years ago, Aristotle commented on the challenges one faces when considering how to make larger charitable gifts:To give away money is an easy matter and in anyone’s power, but to decide to whom to give it, how much to give, when to give, and to give for the...
by Dave Duringer - Protective Law Corp | Feb 15, 2017 | Asset Protection, Charity, Estate Planning, Family Protection, Tax Planning
DAF pros and cons Here are the advantages and disadvantages of using a DAF: Immediate tax deduction. Your contribution to the DAF is deductible in the tax year in which the initial contribution is made. You don’t have to wait until the fund makes distributions...
by Dave Duringer - Protective Law Corp | Feb 10, 2017 | Business Succession, Career Maintenance, Career Preparation, Charity, Estate Planning, Family Maintenance, Family Protection, Financial Mentorship, Firearm Legacy, Firearm Training, Punishment, Religious Faith, Spendthrift Children
Good discussion of incentive trust planning: Many subjects that serve as substantial planning motivators aren’t found on client questionnaires and are frequently absent from planning discussions. Source: The Other Reasons For Estate Planning (Well actually, we...
by Dave Duringer - Protective Law Corp | Jan 23, 2017 | Charity
As with most of these wealthmanagement.com articles, watch out for the liberal slant. For example, in highlighting increased funding for “constitutional rights” there is mention of “privacy” and “separation of church and...
by Dave Duringer - Protective Law Corp | Jan 15, 2017 | Charity, Estate Planning
Some good advice here, but the apparent SJW author who included a plug for Planned Parenthood would do well to follow his own advice and consider millennials, who now are moving away from abortion. Transparency and technology are at the forefront. Source: Top...
by Dave Duringer - Protective Law Corp | Jan 12, 2017 | Career Maintenance, Career Preparation, Charity, Family Maintenance, Family Protection, Firearm Legacy, Punishment, Religious Faith
And don’t forget it also bars you from possessing a firearm, under at least federal law. Marijuana does raise the risk of getting schizophrenia and triggers heart attacks, according to the most significant study on the drug’s effects to date....