Revenue Ruling 2023-2

Equity Strip

Revenue Ruling 2023-2 is Nothing New The IRS ruled in Revenue Ruling 2023-2 that assets in an irrevocable trust outside the taxable estate of the grantor, do NOT get a step up in cost basis when the grantor dies. Although this ruling has received some attention and disagreement in the media, it is nothing new…

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Live Well, Leave a Legacy

Live Well, Leave a Legacy

Welcome to Durfee Law Group Hi, my name is Rick Durfee. I am the founder and senior attorney of Durfee Law Group. Welcome to our firm. My personal and law firm motto is “Live Well, Leave a Legacy.”® The story behind this motto will help you understand who we are, why we do what we do,…

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Equity Strip Exposed

Equity Strip

How To Strip Out Equity The so-called “equity strip” is sometimes promoted as an asset protect device.  It is most often used with real estate.  However, it can be used with nearly any asset.  While an equity strip can have significant asset protection benefits, it also has much less aggressive uses for simple retirement cash…

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Estate Planning Without Children

Estate Planning Without Children

Estate Planning Hacks When There Are No Children Tragedies related to Estate Planning without children are an ancient literary archetype.  From Cain and Able to Charles Dickens, the abuse and discord that can result from property passing when there are no children is a persistent theme.  There is a reason for this.  It has frequently…

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