by Dave Duringer - Protective Law Corp | Dec 4, 2024 | Asset Protection, Blended Families, Blog, Bloodline Protection, Business Succession, Buying or Selling a Closely Held Business, Career Maintenance, Career Preparation, Charity, Creditors & Predators, Defensive Gun Use, Entity Formation, Estate Admin, Estate Planning, Estate Tax, Family Maintenance, Family Protection, Financial Mentorship, Firearm Legacy, Firearm Training, Fortune, Gift Tax, GST Tax, GunLaw.Pro, Health Planning, Honor, Incapacity Planning, Income Tax, Life, Limitation of Liability, News & Commentary, Operation & Governance, Pet Protection, Probate Admin, Property Tax, Punishment, Regulatory Compliance, Religious Faith, Retirement Planning, Spendthrift Children, Tax Planning, Trust Admin, Venture Protection, WorldExaminer.com
by Dave Duringer - Protective Law Corp | Jun 20, 2024 | Blog, Business Succession, Buying or Selling a Closely Held Business, Dying Embarrassed, Estate Admin, Estate Planning, Estate Tax, News & Commentary, Operation & Governance, Probate Admin, Tax Planning, Trust Admin, Venture Protection
In a major unanimous decision (Connelly v US) sure to cause revision of many business succession plans, the US Supreme Court earlier this month on June 6, 2024, rejected use of a corporate redemption obligation as an estate deduction. While the Court pointed out in a...
by Dave Duringer - Protective Law Corp | May 6, 2024 | Blog, Estate Admin, Estate Planning, Family Maintenance, Family Protection, Firearm Legacy, Firearm Training, GunLaw.Pro, Honor, Life, Probate Admin, Religious Faith, Trust Admin
Here is a quick overview of seven major types of gun trusts: Trust Mill NFA Trust: This is a “simple” (sometimes shockingly simple) “cookie-cutter” type boilerplate trust designed for purchase of firearms and/or suppressors regulated under the...
by Dave Duringer - Protective Law Corp | Sep 26, 2023 | Blog, Estate Admin, Estate Planning, Family Protection, Firearm Legacy, Firearm Training, GunLaw.Pro, Life, Probate Admin, Trust Admin
The March/April 2023 edition of the bimonthly magazine “California Firing Line”, published by the California Rifle & Pistol Association (CRPA), includes an “Information Bulletin” at pages 19-24 entitled Firearm Estate Planning —...
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 | Jan 21, 2023 | Blog, Estate Admin, Estate Planning, Family Protection, Honor, Life, Probate Admin, Trust Admin
[Hi it’s me Dave Duringer — no, I didn’t “die suddenly” (a concerned relative thought I did because this post came up on google in a way that gave that impression). No one in my family took the clot shot, although a distant cousin of mine...
by Dave Duringer - Protective Law Corp | May 31, 2022 | Asset Protection, Blog, Business Succession, Estate Admin, Estate Planning, Limitation of Liability, Probate Admin, Venture Protection
The limited liability company (LLC) is a popular business structure that offers liability protection and avoidance of double taxation. Trusts are popular asset transfer vehicles that allow you to avoid probate and keep assets out of the hands of creditors. By placing...
by Dave Duringer - Protective Law Corp | Mar 3, 2022 | Blog, Estate Admin, Estate Planning, Family Protection, Firearm Legacy, GunLaw.Pro, Probate Admin, Spendthrift Children, Trust Admin
This critique of the 2022 (9th) edition of “California Gun Laws” by C.D. “Chuck” Michel and Matthew D. Cubeiro is not a critique of the entire book, but only a small portion consisting of two sections, Section 3 (“Operation of Law”...
by Dave Duringer - Protective Law Corp | Nov 3, 2018 | Estate Admin, Probate Admin, Trust Admin
Insolvent estates happen and are full of minefields for all involved: Begin With a Plan When faced with such an estate, the advisor should meet with the executor and together they should set out a plan for success. The plan should include a beginning inventory...
by Dave Duringer - Protective Law Corp | Jul 22, 2017 | Estate Admin, Estate Planning, Estate Tax, Income Tax, Probate Admin, Tax Planning, Trust Admin
Rev. Proc. 2017-34 SECTION 1. PURPOSE This revenue procedure provides a simplified method for certain taxpayers to obtain an extension of time under § 301.9100-3 of the Procedure and Administration Regulations to make a “portability” election under §...
by Dave Duringer - Protective Law Corp | May 17, 2017 | Estate Admin, Estate Planning, Family Protection, Probate Admin, Trust Admin
The trusts I draft are usually pretty thick, thicker than clients expect. But no matter how thick the trust, the plan can fail if spouses are not in agreement on the underlying character of the property (separate or community). This might have been the case with the...
by Dave Duringer - Protective Law Corp | Apr 8, 2017 | Estate Admin, Probate Admin, Trust Admin
In Georgia, generally, a constructive trust cannot be imposed on real property based solely on a broken verbal promise to hold or transfer the land for the benefit of another. However, a broken verbal promise may give rise to a constructive trust if it was...
by Dave Duringer - Protective Law Corp | Mar 23, 2017 | Estate Admin, Probate Admin
The first is the preemption argument. The administrator argued that the discretion granted to him to elect portability under the terms of 26 U.S.C.A. 2010 trumped Oklahoma law concerning the fiduciary obligations owed by estate administrators to potential...
by Dave Duringer - Protective Law Corp | Mar 11, 2017 | Estate Admin, Estate Planning, Probate Admin, Trust Admin
Wow, what a ridiculous idea — ante-mortem probate! I have two simpler words that offer a better solution: “LIVING TRUST” What better way to gauge a testator’s true intent than a trust arrangement the testator lives with day in and day out,...
by Dave Duringer - Protective Law Corp | Mar 5, 2017 | Estate Planning, Probate Admin
According to WealthCounsel’s recent inaugural Estate Planning Awareness Survey: Despite this direct knowledge of what can happen, 50% of respondents with a will believe that wills protect them from probate court after they pass away, and more than two-thirds (70%)...
by Dave Duringer - Protective Law Corp | Mar 3, 2017 | Archived, Estate Admin, Estate Planning, Estate Tax, Gift Tax, Income Tax, Probate Admin, Tax Planning, Trust Admin
Significant coverage was devoted at the recently concluded 51st Annual Heckerling Institute on Estate Planning in Orlando, Fla. to the Internal Revenue Service’s proposed regulations (proposed regs) concerning basis consistency and reporting for property...
by Dave Duringer - Protective Law Corp | Feb 26, 2017 | Archived, Estate Admin, Estate Planning, Horror Stories, Probate Admin, Trust Admin
According to the article, Bowie admitted to being “incredibly promiscuous” — yikes, bad planning or no planning here to avoid pretermitted child claims. Anyone who believes they are David Bowie’s secret love child should make their case...
by Dave Duringer - Protective Law Corp | Feb 10, 2017 | Estate Admin, Horror Stories, Probate Admin, Tax Planning, Trust Admin
This is an appeal of summary judgment by the personal representative (the “PR”) of an estate. The lower court found the PR to be personally liable under the federal priority statute, Section 3713, for tax liabilities due from an insolvent estate. Under the...
by Dave Duringer - Protective Law Corp | Feb 3, 2017 | Estate Admin, Probate Admin, Trust Admin
With certain exceptions and prior to June 1, 2015, the IRS issued an ETCL for every estate tax return filed. After that date, the IRS changed its policy and only issued such a letter upon formal request by an estate and not sooner than four months after the...
by Dave Duringer - Protective Law Corp | Jan 29, 2017 | Asset Protection, Estate Admin, Estate Planning, Family Protection, Probate Admin, Trust Admin
By now, hopefully most people are aware that probate avoidance is one of the core benefits of a properly drafted and funded revocable trust, even one done by a trust mill that lacks the sort of comprehensive planning we do. Why is probate bad? Well, one of the...
by Dave Duringer - Protective Law Corp | Jan 29, 2017 | Asset Protection, Estate Admin, Estate Tax, Probate Admin, Tax Planning
Prince’s estate has until Saturday to file an estate tax payment for the late rock superstar, and the taxes are expected to ultimately swallow nearly half the estate’s estimated $200 million value, meaning a likely windfall of roughly $100 million for the...
by Dave Duringer - Protective Law Corp | Jan 15, 2017 | Archived, Asset Protection, Estate Admin, Estate Planning, Estate Tax, Gift Tax, Income Tax, Probate Admin, Tax Planning, Trust Admin
Good advice in this article, but much of the uncertainty can be removed with thorough, comprehensive planning with an eye toward flexibility. For example, in our planning (http://Protect.LIFE), we offer not only the current flexibility of the Clayton election,...
by Dave Duringer - Protective Law Corp | Jan 9, 2017 | Asset Protection, Estate Admin, Estate Planning, Probate Admin, Trust Admin
Conduct due diligence. Always ask questions and conduct research to find out about the work of art’s history, as well as exhibition and literature citations prior to purchase. Ideally, a buyer should be able to trace the history of the painting all the way back...
by Dave Duringer - Protective Law Corp | Jan 2, 2017 | Asset Protection, Creditors & Predators, Estate Planning, Health Planning, Probate Admin, Retirement Planning, Spendthrift Children, Trust Admin
He has outlived all 10 of his siblings as well as his four wives, the last of whom died in 1988. All of his children have also died, and now he is survived by his grandchildren, great grandchildren, and great-great grandchildren. Source: World’s oldest...
by Dave Duringer - Protective Law Corp | Dec 28, 2016 | Estate Admin, Horror Stories, Probate Admin, Trust Admin
From a respected WealthCounsel colleague: The Good: The new TOD Deed Will be simple to use; Will be less expensive than creating a Living Trust; Will eliminate the time and expense of a probate; Will remain revocable during the lifetime of the grantor; and, Will...
by Dave Duringer - Protective Law Corp | Dec 8, 2016 | Asset Protection, Estate Planning, Probate Admin
Estate planning is a cost of doing family. Failing to plan is an act of violence against family. New York (AFP) – A New Zealand man is the latest person to say he is pop icon Prince’s heir after a judge dismissed a series of other claims, court...
by Dave Duringer - Protective Law Corp | Oct 31, 2016 | Asset Protection, Dying Embarrassed, Estate Admin, Estate Planning, Probate Admin, Tax Planning, Trust Admin
Wouldn’t it be nice to be able to go back and fix an estate plan before death or incapacity of the grantor? Protective Law Corporation will be very pleased to offer such post-mortem estate planning, and we will add it to our pricing sheet just as soon as the...
by Dave Duringer - Protective Law Corp | Oct 18, 2016 | Asset Protection, Estate Planning, Health Planning, Probate Admin
Lots of irony here, and perhaps some lessons. Famed local juvenile court judge who never had any children of her own, but has a building named after her that has housed probate court operations for the county, now has her estate tied up in probate court. Lamoreaux,...
by Dave Duringer - Protective Law Corp | Oct 5, 2016 | Dying Embarrassed, Estate Planning, Horror Stories, Probate Admin
Sonny Bono’s estate planning was even more embarrassing than his death skiing into a tree. A political as well as pop figure, with some messy personal relationships, he should have had better planning — or at least some planning. But he had no will and of...
by Dave Duringer - Protective Law Corp | Oct 5, 2016 | Asset Protection, Dying Embarrassed, Horror Stories, Probate Admin
Bob Marley’s estate continues to generate significant revenue decades after his death in 1981. Marley died intestate even though he knew he had cancer and lingered for nearly 8 months. Dozens fought over his estate, worth a reported $30 million. If attacked, do...
by Dave Duringer - Protective Law Corp | Oct 2, 2016 | Dying Embarrassed, Estate Planning, Horror Stories, Probate Admin
Because he left no effective will or estate plan, Swedish author Stieg Larsson’s longtime partner was not entitled to the fortune from his Millennium series of books (and the movies based on them). He lived with Eva Gabrielsson for 30 of his short 50 years on...
by Dave Duringer - Protective Law Corp | Sep 30, 2016 | Dying Embarrassed, Estate Planning, Horror Stories, Probate Admin
Amy Winehouse lived fast and died young — without a will or any other estate planning, of course. Moreover, parents pressured her to divorce her husband yet the romance rekindled and friends say she would have wanted to leave something for her soulmate. Too bad...
by Dave Duringer - Protective Law Corp | Sep 29, 2016 | Dying Embarrassed, Estate Planning, Horror Stories, Probate Admin
The smooth, baritone Barry White never got divorced from his wife even though he was living with someone else. Plus he failed to make a will. All of that added up to years of conflict between his ex-wife, wife and girlfriend. If attacked, do you want to be Victor or...
by Dave Duringer - Protective Law Corp | Sep 28, 2016 | Dying Embarrassed, Estate Planning, Family Protection, Horror Stories, Probate Admin
Tony Curtis had six kids from six marriages, left them nothing in his will except a legacy of litigation. 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...
by Dave Duringer - Protective Law Corp | Sep 28, 2016 | Dying Embarrassed, Estate Planning, Horror Stories, Probate Admin
King left a great legacy in civil rights before his assassination at the age of 39 in 1968, but he didn’t leave a will or estate plan. That blunder left his family grappling for control of his image and financial legacy even now, decades after his death. If attacked,...
by Dave Duringer - Protective Law Corp | Sep 20, 2016 | Dying Embarrassed, Estate Planning, Horror Stories, Probate Admin
Talk about long probates! President Washington wrote his Last Will and Testament himself, without consulting any “professional character.” The will is dated July 9, 1799, less than six months before his death on December 14, 1799. …. Probate lasted...
by Dave Duringer - Protective Law Corp | Aug 29, 2016 | Asset Protection, Estate Admin, Estate Planning, Probate Admin, Trust Admin
Whether it’s just perception or not, it does seem like there seems to be more fighting regarding estate plans. Here are 10 reasons why. Source: Ten Reasons Estate Conflicts May Be Increasing | Wealth Management In other Asset Protection news… Estate Sales:...
by Dave Duringer - Protective Law Corp | Aug 6, 2016 | Estate Admin, Estate Planning, Family Maintenance, Family Protection, Firearm Legacy, Firearm Training, Probate Admin, Religious Faith, Trust Admin
Post-Gunpocalypse gun trust planning for California firearm legacy.
by Dave Duringer - Protective Law Corp | Jun 25, 2016 | Estate Admin, Probate Admin, Trust Admin
Poor estate planning often leads to bitter fighting that can last years. Here are 11 high-profile examples of long-running estate conflicts, many of which could have been avoided with a little foresight. Source: Photo Gallery: Eleven Long-Running Celebrity Estate...
by Dave Duringer - Protective Law Corp | Jun 22, 2016 | Estate Admin, Probate Admin, Trust Admin
Executors are bound by a bewildering array of responsibilities and duties. Here are 10 common pitfalls to avoid. Source: Photo Gallery: Top 10 Executor Mistakes | WealthManagement.com If attacked, do you want to be Victor or Victim? At SacredHonor.US, we hate it when...
by Dave Duringer - Protective Law Corp | Jun 20, 2016 | Estate Admin, Probate Admin
Executors (or administrators) of estates shoulder a great deal of responsibility. For this reason, trusted professionals familiar with the process are often the best choices. However, in many cases, the deceased’s closest family member (child or spouse usually) is...
by Dave Duringer - Protective Law Corp | May 4, 2016 | Dying Embarrassed, Estate Admin, Horror Stories, Probate Admin, Trust Admin
Widow vs. children. This happens more commonly than decedents expect before they die. Perhaps a total return unitrust would have worked here. If attacked, do you want to be Victor or Victim? At SacredHonor.US, we hate it when people die embarrassed. And at Protect.FM,...
by Dave Duringer - Protective Law Corp | May 4, 2016 | Dying Embarrassed, Estate Admin, Horror Stories, Probate Admin, Trust Admin
Whitney Houston’s estate in the news again — death of her daughter and failure to update her plan means assets are back in Whitney’s estate. If attacked, do you want to be Victor or Victim? At SacredHonor.US, we hate it when people die embarrassed....
by Dave Duringer - Protective Law Corp | May 4, 2016 | Dying Embarrassed, Estate Admin, Horror Stories, Probate Admin
$300 million and no estate plan? That’s embarrassing enough to turn someone purple. 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...
by Dave Duringer - Protective Law Corp | Mar 15, 2016 | Estate Admin, Estate Tax, Probate Admin, Tax Planning, Trust Admin
This content is for members only
by Dave Duringer - Protective Law Corp | Mar 11, 2016 | Dying Embarrassed, Estate Admin, Firearm Legacy, Firearm Training, News & Commentary, Probate Admin, Trust Admin
BTW, there is no such thing as a “gun accident” — this was a negligent discharge. Stop a moment and think whether your family is trained at least in the basic rules of gun safety. I can tell you it is very common for family members with absolutely no...
by Dave Duringer - Protective Law Corp | Feb 29, 2016 | Estate Admin, Horror Stories, Probate Admin, Trust Admin
Unfortunately, even a simple, seemingly trivial mistake can turn an otherwise careful transfer of an asset (like a house) into a horror story – and you may not even realize you’ve made a mistake until it’s too late. One Arkansas family currently faces big consequences...
by Dave Duringer - Protective Law Corp | Aug 18, 2014 | Probate Admin, Trust Admin
Estate settlement responsibilities can get complicated and tend to arrive precisely at the time when we are least able to handle them, emotionally and perhaps physically. Here is a general discussion of some of the issues involved for a simple estate, but keep in...
