Posts by Rick Durfee
SECURE Act Estate Plan Update
Some people think that their IRA actually belongs to them. It does not. It belongs in part to the government. The politicians created IRA plans. Those who make the rules can change the rules. . . and they do. This principle is made very clear in the SECURE Act. The SECURE Act Estate Plan Update…
Read MoreTax Deductions for Giving Art to Charity
When one’s basic needs are fully met, it is not uncommon to accumulate and surround oneself with beautiful things. In other words, those who can, collect art. Sadly, part of the human condition is that it doesn’t last forever. Deciding what will happen to such art collections when we are done with them is a…
Read MoreWhy Is Probate Necessary?
Mandatory Litigation Probate is almost never voluntary. It is compelled. Why is probate necessary? When a person dies, it has been a nasty habit of humanity from the dawn of time for people to show up to rip off the dead guy. Dean people have no natural defenses. They can’t fight back. They no longer…
Read MoreMember Managed LLC’s are a Bad Idea
Is a Member Managed LLC a Good Idea or a Bad Idea? With rare exceptions, Member Managed LLC’s are a bad idea. In spite of this, the most common form of LLC structure is Member Managed. Sadly, almost all CPA’s and even some attorneys have no idea that a Member Managed LLC fails to accomplish…
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