by Dave Duringer - Protective Law Corp | Mar 28, 2024 | Blog, Estate Admin, Estate Planning, Estate Tax, Financial Mentorship, Fortune, Gift Tax, GST Tax, Income Tax, News & Commentary, Property Tax, Tax Planning
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...
by Dave Duringer - Protective Law Corp | Mar 4, 2024 | Asset Protection, Blog, Business Succession, Buying or Selling a Closely Held Business, Creditors & Predators, Entity Formation, Fortune, Limitation of Liability, News & Commentary, Operation & Governance, Regulatory Compliance, Venture Protection
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...
by Dave Duringer - Protective Law Corp | Feb 23, 2024 | Asset Protection, Blog, Creditors & Predators, Entity Formation, Fortune, Limitation of Liability, Operation & Governance, Venture Protection
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...
by Dave Duringer - Protective Law Corp | Feb 22, 2024 | Blog, Fortune, Operation & Governance, Venture Protection
Assets, liabilities, and equity are accounting terms that every small business owner should be familiar with. They are included on a business’s balance sheet, providing a snapshot of financial health. A balance sheet shows a company’s assets and liabilities at a given...
by Dave Duringer - Protective Law Corp | Feb 21, 2024 | Blog, Business Succession, Buying or Selling a Closely Held Business, Entity Formation, Fortune, Limitation of Liability, Operation & Governance, Regulatory Compliance, Venture Protection
Small business owners are no strangers to government regulations. There are many requirements that businesses must be aware of and comply with, including business license and permit rules. Most businesses must obtain licenses or permits, so it is important for each...
by Dave Duringer - Protective Law Corp | Feb 20, 2024 | Asset Protection, Blog, Business Succession, Buying or Selling a Closely Held Business, Creditors & Predators, Entity Formation, Fortune, Limitation of Liability, Operation & Governance, Regulatory Compliance, Venture Protection
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...
by Dave Duringer - Protective Law Corp | Feb 19, 2024 | Asset Protection, Blog, Buying or Selling a Closely Held Business, Creditors & Predators, Fortune, Limitation of Liability, Regulatory Compliance, Venture Protection
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...
by Dave Duringer - Protective Law Corp | Feb 9, 2024 | Asset Protection, Blog, Creditors & Predators, Entity Formation, Fortune, Limitation of Liability, Operation & Governance, Venture Protection
All registered corporations are required by law to hold an annual meeting. Limited liability companies (LLCs), although not subject to the same statutory requirement, may hold regular meetings in accordance with their governing documents. What Is the Purpose of a...
by Dave Duringer - Protective Law Corp | Feb 8, 2024 | Blog, Fortune, Income Tax, Operation & Governance, Tax Planning, Venture Protection
As the holiday season approaches, gift-giving is on the minds of many business owners. But there are reasons why a business owner may want to give gifts to workers and clients throughout the year and not just during the holidays. Whether to recognize a job well done,...
by Dave Duringer - Protective Law Corp | Feb 7, 2024 | Blog, Fortune, Limitation of Liability, Operation & Governance, Uncategorized, Venture Protection
Good business ideas have a simple elegance that can spur entrepreneurs to ask themselves, Why didn’t I think of that? Or maybe they did have a good idea but lacked the foresight to turn it into an effective business model. Inspiration alone is not enough to succeed in...
by Dave Duringer - Protective Law Corp | Feb 6, 2024 | Blog, Business Succession, Buying or Selling a Closely Held Business, Entity Formation, Fortune, Limitation of Liability, Operation & Governance, Regulatory Compliance, Venture Protection
Americans have a “pull yourself up by your bootstraps” mentality that speaks to our individualism and enterprising spirit. This mindset is especially pronounced among business owners, who have chosen to forego the typical employment route in favor of creating their...
by Dave Duringer - Protective Law Corp | Feb 3, 2024 | Blog, Business Succession, Buying or Selling a Closely Held Business, Entity Formation, Estate Admin, Fortune, Operation & Governance, Venture Protection
Financial winter is coming. Or is it? Despite renewed optimism that the US economy can avoid a deep downturn, economists say the chances of a recession in 2024 are still about even. Small businesses are feeling the pain from high inflation, declining consumer...
by Dave Duringer - Protective Law Corp | Nov 12, 2023 | Blog, Estate Planning, Estate Tax, Fortune, Gift Tax, GST Tax, Tax Planning
Suppose earlier this year you read somewhere (this site, for example) that estate, gift, and generation-skipping transfer (GST) tax exemptions will drop in half in 2026, and that there is generally no clawback for gifts made before then which exceed the 2026 exemption...
by Dave Duringer - Protective Law Corp | Nov 12, 2023 | Asset Protection, Blog, Creditors & Predators, Entity Formation, Estate Admin, Estate Planning, Fortune, Operation & Governance, Regulatory Compliance, Tax Planning, Trust Admin, Venture Protection
Did you ever put off studying for a final, until the night before the final? That’s pretty much how the planning community is feeling about the Corporate Transparency Act (CTA), which will go into effect January 1, 2024. Congress passed the devilish law several...
by Dave Duringer - Protective Law Corp | Oct 22, 2023 | Asset Protection, Blog, Bloodline Protection, Creditors & Predators, Estate Admin, Estate Planning, Fortune, Income Tax, Retirement Planning, Tax Planning, Trust Admin
On December 29, 2022, President Biden signed the Setting Every Community Up for Retirement Enhancement 2.0 Act (SECURE 2.0 Act). The previous SECURE Act in 2020 made several changes to retirement planning: It increased the required beginning date (RBD) for required...
by Dave Duringer - Protective Law Corp | Mar 25, 2023 | Blog, Defensive Gun Use, Estate Admin, Estate Planning, Family Maintenance, Family Protection, Financial Mentorship, Firearm Legacy, Firearm Training, Fortune, GunLaw.Pro, Honor, Incapacity Planning, Life, News & Commentary, Probate Admin, Religious Faith, Trust Admin, WorldExaminer.com
Presentation by Attorney Dave Duringer clears up confusion over California Gun Trust Planning. What is a Gun Trust? Is a Gun Trust Effective? Is a Gun Trust Necessary? Is a Gun Trust Recommended? YES! Every California gun owner should have one! A regular trust might...
by Dave Duringer - Protective Law Corp | Oct 15, 2022 | Blog, Family Protection, Firearm Legacy, Firearm Training, Fortune, Honor, Life, News & Commentary
This 30-second video below shows the famous incident where I held up a piece of plastic. You can skip the email input, but if you do that you’ll miss out on some important news and great training: The video below shows a couple of idiots saying they were...
by Dave Duringer - Protective Law Corp | Sep 3, 2022 | Blog, Fortune, Honor, Life, News & Commentary
MORRO BAY, CA — At long last, the fate of the Morro Bay Power Plant is decided. Public support for Vistra’s Battery Energy Storage System (BESS) wanes with every new exploding Tesla, undt der Fuhrer Biden deems public support important, especially since...
by Dave Duringer - Protective Law Corp | Aug 15, 2022 | Asset Protection, Blog, Business Succession, Estate Planning, Family Protection, Financial Mentorship, Fortune, Tax Planning, Venture Protection
You spend a significant part of your life building your business, and it becomes a major part of your legacy. But when you die, everything you have built could fall apart if you have not taken the time to create a business succession plan. Without a plan in place,...
by Dave Duringer - Protective Law Corp | Aug 12, 2022 | Blog, Business Succession, Buying or Selling a Closely Held Business, Family Protection, Financial Mentorship, Fortune, Operation & Governance, Venture Protection
Your family and your business are two of your top priorities. You would not do anything to compromise either of them. But working with family members in a family-owned business presents unique challenges that can cause lasting damage to both if not properly managed....
by Dave Duringer - Protective Law Corp | Aug 10, 2022 | Blog, Business Succession, Buying or Selling a Closely Held Business, Estate Planning, Family Maintenance, Family Protection, Fortune, Operation & Governance, Venture Protection
Conflicts are inevitable within businesses and families. Personal rivalries, differences of opinion, competition for resources, and questions of prestige can set individuals at odds and lead to warring factions with competing loyalties. Resolving conflicts in both...
by Dave Duringer - Protective Law Corp | Aug 9, 2022 | Asset Protection, Blog, Creditors & Predators, Estate Planning, Fortune, Limitation of Liability, Operation & Governance, Venture Protection
Small business owners are no strangers to risk management. Owning and operating a small business entails a certain level of unpredictability. Despite your best efforts to stay on top of supply chains, marketing, sales, competitors, employees, and cash flow, unexpected...
by Dave Duringer - Protective Law Corp | Aug 8, 2022 | Asset Protection, Blog, Business Succession, Buying or Selling a Closely Held Business, Creditors & Predators, Entity Formation, Estate Planning, Family Maintenance, Financial Mentorship, Fortune, Limitation of Liability, Operation & Governance, Regulatory Compliance, Tax Planning, Venture Protection
Trusts are usually associated with estate planning, but trusts can also apply to business operations. As a small business owner, you can hold the business in a trust instead of using a business entity such as a limited liability company (LLC) or corporation. Business...
by Dave Duringer - Protective Law Corp | Aug 1, 2022 | Blog, Business Succession, Buying or Selling a Closely Held Business, Fortune, Venture Protection
Part of the reward of being a small business owner is seeing your hard work pay off over the years. The many sacrifices you made for your business can all seem worth it on the day you close a deal to sell your company. But if you are dreaming of that day, it will take...
by Dave Duringer - Protective Law Corp | Jul 25, 2022 | Blog, Bloodline Protection, Business Succession, Buying or Selling a Closely Held Business, Estate Planning, Fortune, Venture Protection
In theory, a limited liability company (LLC) can last in perpetuity. However, the owners of an LLC should plan for the day when they are no longer there to run their business. This includes not only situations like retirement or career change, but also a decidedly...
by Dave Duringer - Protective Law Corp | Jul 22, 2022 | Blog, Buying or Selling a Closely Held Business, Fortune, Venture Protection
An equity purchase agreement, also known as a share purchase agreement or stock purchase agreement, is a contract that transfers shares of a company from a seller to a buyer. Equity purchases can be used to acquire a business in whole or in part. They are frequently...
by Dave Duringer - Protective Law Corp | Jul 13, 2022 | Blog, Fortune, Venture Protection
There are some activities we engage in outside of work strictly for personal reasons, with no thought of ever profiting from them. You might, for example, enjoy photography, hiking on the weekends, or collecting classic records. There is no monetary gain—and no...
by Dave Duringer - Protective Law Corp | Jul 12, 2022 | Blog, Fortune, Limitation of Liability, Operation & Governance, Regulatory Compliance, Venture Protection
Small business owners are accustomed to having grace under fire when it comes to running their business. But it is just as necessary that they demonstrate grace when firing an employee. Due to harsh economic conditions, some sectors of the American economy had to...
by Dave Duringer - Protective Law Corp | Jul 11, 2022 | Blog, Business Succession, Entity Formation, Fortune, Limitation of Liability, Operation & Governance, Venture Protection
Small business owners put their blood, sweat, and tears into ensuring the success of their company, which, though difficult to measure, are no less valuable than capital contributions. At the same time, if you are investing your time and energy into a limited...
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 | Jun 27, 2022 | Blog, Defensive Gun Use, Estate Planning, Family Protection, Firearm Legacy, Firearm Training, Fortune, GunLaw.Pro, Honor, Life, News & Commentary, WorldExaminer.com
Now that I’ve read the full majority opinion and concurrences, I have a few comments and predictions to make regarding NYSRPA v Bruen (I’ve omitted citations, so please just go to the actual opinion and use CTRL-F if you need to find something). I ignored...
by Dave Duringer - Protective Law Corp | Jun 24, 2022 | Blog, Estate Planning, Family Protection, Fortune, Honor, Life, News & Commentary, Religious Faith
The Supreme Court of the United States, a few minutes ago, released its opinion in Dobbs v Jackson overturning both Roe v Wade and Planned Parenthood v Casey, thus returning the issue of abortion to the People and their elected representatives. The decision is either...
by Dave Duringer - Protective Law Corp | Jun 23, 2022 | Blog, Defensive Gun Use, Estate Planning, Family Protection, Firearm Legacy, Firearm Training, Fortune, GunLaw.Pro, Honor, Life, News & Commentary, WorldExaminer.com
In a blockbuster decision released minutes ago, the Supreme Court of the United States has held with a solid 6-3 majority in the case of New York State Rifle & Pistol Association, Inc. v. Bruen, that New York’s statutory restriction against bearing arms...
by Dave Duringer - Protective Law Corp | Jun 21, 2022 | Blog, Fortune, Honor, Life, News & Commentary, Religious Faith
In an opinion released today, the US Supreme Court struck down a Maine tuition assistance program assisting parents of kids located in districts without a secondary school to help them send their kids to private school. However, the program was for...
by Dave Duringer - Protective Law Corp | Jun 16, 2022 | Asset Protection, Blended Families, Blog, Creditors & Predators, Estate Planning, Estate Tax, Fortune, Income Tax, Tax Planning
The Basis Optimized Trust (BOT) is an advanced option for planning that may yield better results than the more common types of irrevocable trusts, such as credit shelter (bypass) trusts, or qualified terminable interest property (QTIP) trusts, which have been the...
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 | Mar 31, 2022 | Asset Protection, Blog, Bloodline Protection, Creditors & Predators, Estate Planning, Estate Tax, Fortune, Income Tax, Spendthrift Children, Tax Planning
The Beneficiary Deemed Owner Trust (BDOT) is one of several options to consider for “trusted beneficiaries” (pun intended) to whom you are open to giving some access to trust income and/or principal. (Another option might be the Beneficiary Controlled...
by Dave Duringer - Protective Law Corp | Jan 17, 2022 | Blog, Defensive Gun Use, Estate Planning, Family Protection, Firearm Legacy, Firearm Training, Fortune, Honor, Life
Want to stop COVID fast? You have bullets enough. In this post I’ll expand on a great article with a brilliant title, “The Pandemic of the Unarmed,” by Ian Underwood over at Granite Grok. In that article, prompted by Quebec’s plans to...