'Rick Durfee Last Will vs. Living Trust Questions about Wills and Trusts are common: Do I need a Living Trust if I have a Last Will? Do I need a Will if I have a Trust? Which is essential? Can I have one without the other? Are both enough, ...
'Rick Durfee Estate Planning in Turbulent Times Our nation’s history is marked by turbulent periods—the American Revolution, Civil War, World Wars, Great Depression, and Sixties revolutions. Today’s era, with political corruption, wars, inflation, ...
'Rick Durfee Busting Trust Myths Our beliefs shape our experiences and actions. Mistaken beliefs, or “myths,” complicate problems, while correcting them unlocks new possibilities. For centuries, European scholars clung to the myth th...
'Rick Durfee More Trust Myths to Bust Mistaken beliefs about Trusts can derail estate planning, perpetuating a cycle where only 9% of inherited wealth reaches the third generation. By contrast, some families grow both financial and human ...
'Rick Durfee Having "The Talk" With Your Children What do you wish your parents had done with their estate plan to ease the burden after their passing? Responses rarely focus on plan details. The next generation often says, “I wish my parents had tol...
'Rick Durfee Life Insurance Tax Traps Many believe life insurance is inherently tax-free, unaware that ownership, use, or payment structures can trigger taxes. Knowing these pitfalls allows you to avoid them. This article outlines common ...
'Rick Durfee The Tax Horse As a six-year-old, I crawled through a corral fence to admire a horse, thrilled yet terrified when it noticed me. Unsure whether to run or stand, I froze as it stepped on my foot, bit my shoulder, and... Business Planning Tax Basics Tax Planning
'Rick Durfee Small Businesses and Families There is a specific IRS page that spells out how a family may and may not use a small business. The IRS specifically points out that the law permits a parent to own a single member LLC and pay their m...
