Posts by Rick Durfee
Trust Decant – Old Wine New Bottle
Trust Decant The term “decant” means to pour the contents of one container into another container. It is like pouring old wine into a new bottle. It has come to refer to the practice of forming a new updated trust, and transferring the assets from an old obsolete trust to the new trust as a…
Read MoreDomicile In Florida
No Tax States Clients frequently ask where they can move to reduce their local income tax. There are several states that have either very low or no income tax including as of this article Alaska, Wyoming, Tennessee, Florida, New Hampshire, South Dakota, Texas, Washington, and Nevada. It is important to remember that income taxes are…
Read MoreResolving Disputes in Estates with ADR
Staying Out of the Courtroom Preventing and resolving disputes concerning your estate may be one of the most important functions of your estate plan. The reason is simple. Disputes are perhaps the greatest risk to both your financial wealth, and your family. Families are naturally resilient, and can recover from most any trouble. But when…
Read MoreIncidents of Ownership
If you own a life insurance policy on yourself, you may be paying premiums for the benefit of the IRS.
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