Richard E. Durfee. Jr., is the senior attorney at Durfee Law Group, PLLC, which evolved through natural selection from various partnerships. Located in Mesa, Arizona, the firm's services range from wills, trusts, and probate, to complex multi-jurisdictional planning for the ultra-wealthy. Mr. Durfee's main focus is on multi-generational dynasty planning, business and asset protection, strategic charitable planning, and associated tax planning.
Our nation is on the verge of the largest transfer of wealth from one generation to the next in history. Sadly, only about 50% of the wealth makes it to generation two, and only about 10% makes it to generation three. The wealth either gets hijacked and does not arrive at the intended destination, or it crashes and burns instead of landing safely. Troubles such as divorce, lawsuits, dependency, entitlement, addiction, and dysfunctional relationships are symptoms but not the cause. A crucial part of the wealth transfer mechanism is broken. There is a solution. Tune I to find out what the problem is and how to fix it.
We are on the verge of $30 - $68 trillion dollars passing from one generation to the next over the next few decades. As much as 70% of this wealth is lost at each generation, resulting in only 10% reaching generation three. Where does it go? Who gets it? What happens to the family? What can we do about it? Traditional approaches of divide, distribute, and dissipate don't work. Find out what does work and what you can do about it.
Rick Durfee is a preeminent attorney representing high net worth and high income clients throughout the U.S. and the world. Asset Protection has become increasingly necessary and also hazardous. Done wrong, it can cause more problems that it prevents. Common tools like offshore entities, asset protection trusts, and LLC's can put you in a bind and leave you exposed. You are either the master or the slave, your choice. Learn how to avoid getting hurt while protecting both your wealth and what matters most.