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 | Estate Admin, Income Tax, Trust Admin
Income sprinkling is often a good strategy to avoid such high tax rates. In such a scenario, the income accumulated in a trust is distributed before December 31st of the year, and it is counted as income for the beneficiary. Unless the beneficiary is also in...
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 | 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 | 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 | Jul 26, 2016 | Asset Protection, Family Protection, Trust Admin
By following these simple steps, the collector would have avoided the above condition disaster, the collection would have merited the six-figure purchase offer, and his children would have benefited from their father’s thoughtful collecting. Source: A Wine Tale...
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 13, 2016 | Archived, Trust Admin
OK, scratch Northern Trust: The New York Daily News was recently approached by a whistleblower named Aaron Mascarella, a former vice president of lending at the bank, with a series of potentially damning secret recordings that suggest that Northern Trust executives...
by Dave Duringer - Protective Law Corp | May 4, 2016 | Estate Admin, Trust Admin
Continuing a recent trend liberalizing rules on trust funding, yet another California court case has deemed a trust to be funded with real property even in the absence of a deed expressly referring to the trust: Carne v. Worthington If attacked, do you want to be...
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 | Mar 15, 2016 | Estate Admin, Estate Tax, Probate Admin, Tax Planning, Trust Admin
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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...