Author Archives: Kent Phelps

Estate Tax – Obama and Republicans Reach Compromise on Estate Tax and Other Tax Issues

By Kent Phelps, Attorney, Durfee & Phelps PLLC The estate tax issue may be closer to resolution today than any time in the last 9 years –at least for the next 24 months.  Earlier today, President Obama held a news conference confirming he has reached a compromise with Republicans on multiple tax issues, including the…

Estate Tax Update – Reid’s Online Gambling, Sanders’ Filibuster Threaten Estate Tax Deal

By Kent Phelps, Attorney, Durfee & Phelps, PLLC Our play-by-play updates on the estate tax drama created by the deal between President Obama and Republicans continue. In a nutshell:  the deal could lose Republican support if Harry Reid’s online gambling amendment is added;  the deal could be killed by Senator Sanders’ threat of filibuster. Some…

3 Business Succession And Estate Planning Lessons Learned From In-N-Out Burger – Part 3

“Keep it real simple.” Harry Snyder always said. “Do one thing and do it the best you can.” 62 years after Harry Snyder opened the first In-N-Out restaurant, the famously stream-lined menu remains virtually the same. But making hamburgers and fries with only the freshest ingredients wasn’t all that the Snyder family did well. I…

3 Business Succession & Estate Planning Lessons Learned From In-N-Out Burger – Part 2

When Harry and Esther Snyder opened the first In-N-Out Burger in Baldwin Park, CA in 1948, their vision was to make this business a “golden goose” for the Snyder family. For the last 62 years, the Snyders have resisted countless lucrative offers from venture capital firms and corporate conglomerates to swoop up this cash cow….

3 Business Succession & Estate Planning Lessons Learned From In-N-Out Burger – Part 1

Last week I finished the book, In-N-Out Burger: A Behind-the-Counter Look at the Fast-Food Chain That Breaks All the Rules. I remember the first time I ate at an In-N-Out Burger. I was driving my 1974 VW Bug (no air conditioning!) through Southern California on my way from Sacramento to Phoenix the summer after I…

LLC’s Under Attack – Florida Supreme Court Follows Trend and Disregards Single Member LLC

The Florida Supreme Court is now the highest court to continue the trend of other courts across the country to allow creditors to penetrate a single member LLC.

3 Reasons Michael Jackson’s Estate Plan Won’t Work And How You Can Do Better

by Kent Phelps, www.durfeephelps.com I read Michael Jackson’s estate planning documents today. As an estate planning attorney, it is fun to become acquainted with estate planning mistakes of the rich and famous – James Brown, Elvis, Howard Hughes, Marilyn Monroe, and even former Chief Justice of the Supreme Court Warren Burger. On June 1st, 2010,…

Author Archives: Kent Phelps

Estate Tax – Obama and Republicans Reach Compromise on Estate Tax and Other Tax Issues

By Kent Phelps, Attorney, Durfee & Phelps PLLC The estate tax issue may be closer to resolution today than any time in the last 9 years –at least for the next 24 months.  Earlier today, President Obama held a news conference confirming he has reached a compromise with Republicans on multiple tax issues, including the…

Estate Tax Update – Reid’s Online Gambling, Sanders’ Filibuster Threaten Estate Tax Deal

By Kent Phelps, Attorney, Durfee & Phelps, PLLC Our play-by-play updates on the estate tax drama created by the deal between President Obama and Republicans continue. In a nutshell:  the deal could lose Republican support if Harry Reid’s online gambling amendment is added;  the deal could be killed by Senator Sanders’ threat of filibuster. Some…

3 Business Succession And Estate Planning Lessons Learned From In-N-Out Burger – Part 3

“Keep it real simple.” Harry Snyder always said. “Do one thing and do it the best you can.” 62 years after Harry Snyder opened the first In-N-Out restaurant, the famously stream-lined menu remains virtually the same. But making hamburgers and fries with only the freshest ingredients wasn’t all that the Snyder family did well. I…

3 Business Succession & Estate Planning Lessons Learned From In-N-Out Burger – Part 2

When Harry and Esther Snyder opened the first In-N-Out Burger in Baldwin Park, CA in 1948, their vision was to make this business a “golden goose” for the Snyder family. For the last 62 years, the Snyders have resisted countless lucrative offers from venture capital firms and corporate conglomerates to swoop up this cash cow….

3 Business Succession & Estate Planning Lessons Learned From In-N-Out Burger – Part 1

Last week I finished the book, In-N-Out Burger: A Behind-the-Counter Look at the Fast-Food Chain That Breaks All the Rules. I remember the first time I ate at an In-N-Out Burger. I was driving my 1974 VW Bug (no air conditioning!) through Southern California on my way from Sacramento to Phoenix the summer after I…

LLC’s Under Attack – Florida Supreme Court Follows Trend and Disregards Single Member LLC

The Florida Supreme Court is now the highest court to continue the trend of other courts across the country to allow creditors to penetrate a single member LLC.

3 Reasons Michael Jackson’s Estate Plan Won’t Work And How You Can Do Better

by Kent Phelps, www.durfeephelps.com I read Michael Jackson’s estate planning documents today. As an estate planning attorney, it is fun to become acquainted with estate planning mistakes of the rich and famous – James Brown, Elvis, Howard Hughes, Marilyn Monroe, and even former Chief Justice of the Supreme Court Warren Burger. On June 1st, 2010,…