Posts by Rick Durfee
Special Needs Trust
Special Needs Trust Definition Many times, there are certain people who should NOT receive outright distributions from a Trust. Some of these times include: When the individual is not able to handle or manage their own affairs, When it would cause the individual to lose other non-Trust benefits, When the individual is vulnerable to exploitation…
Read MoreIntentionally Defective Grantor Trust
What is an Intentionally Defective Grantor Trust? A Trust can be subject to multiple kinds of taxes, and can be taxed in different ways. To make sense of what an “Intentionally Defective Grantor Trust” is, we must consider two different kinds of taxes: income taxes and estate taxes. These two different taxes are imposed at…
Read MoreFree Estate Planning Documents
Is Free Really Free? Generally, Free Estate Planning Documents are NOT a good idea. You get what you pay for, and you pay for what you get. If you can afford legal advice regarding such documents, it is well worth it. At the same time, sometimes free is appropriate and beneficial. This is particularly true…
Read MoreRevocable Trust Comparison: Simple vs. Dynasty
Trust Comparison The Estate Planning Group of Durfee Law Group offers two levels of Revocable Living Trusts: Simple and Dynasty. This Chart provides a way to make a meaningful Trust Comparison between Simple vs. Dynasty. The Simple Revocable Trust is a smaller lower cost alternative that may be appropriate for very simple and small estates. …
Read More