BIF Bites

It was the 1960s—bellbottoms, Beatles, and flower power ruled the day while America's youth challenged authority at every turn. But while Jimi Hendrix was setting guitars ablaze, California businessman Clifford D. Crummey was quietly funding his family's life insurance trust with annual Christmas gifts—until the IRS claimed those gifts didn't qualify for tax exclusion. Embodying the rebellious spirit of his times, Crummey fought back and won a 1968 court battle that revolutionized wealth transfer forever. Today, "Crummey Powers" help sophisticated families move millions tax-free through dynasty trusts, proving that sometimes the most powerful estate planning tools come from the most unexpected places.

Welcome to the summer of Peace, Love, and Crummey Powers—where one man's fight created a legacy that continues to stick it to the IRS, one trust gift at a time.

Ready to turn today’s insights into an organized study plan? Check out The BIF Review! It's our streamlined, eight-week CFP® Exam prep course that gets you ready to pass the exam while keeping you out of the weeds.

⁠Try it free for 30 days!

In this week's BIF Bites episode, Jerry and Adam sit down to discuss life after passing the CFP(r) Exam. 

In the final instalment of this Question Palooza series, Jerry and Adam tackle the best way to gift a family business as part of an estate plan. 

Ready to turn today’s insights into an organized study plan? Check out The BIF Review! It's our streamlined, eight-week CFP® Exam prep course that gets you ready to pass the exam while keeping you out of the weeds.

⁠Try it free for 30 days!

It's day 5 of our 6-day Question Palooza extravaganza. In this episode, Jerry and Adam tackle ESPP and how the different aspects of this retirement benefit are taxed.  

Today Jerry and Adam tackle everyone's favorite topic, taxes! They dive into the taxation of ISO's and also the tricky question writing style of the CFP Board. This is part 4 of a 6-part series going through the top topics of the CFP exam.  

Jerry and Adam are back with Day 3 of Question Palooza!

Today, they tackle investments and discuss what makes a suitable portfolio asset mix for a client looking for inflation protection. 

In today's episode, Jerry and Adam discuss homeowners' insurance, covering what is and is not covered. 

This is part 2 of a 6-part series going through the top topics of the CFP exam.  

Jerry and Adam kick off a new edition of Question Palooza! This is part 1 of a 6-part series going through the top topics of the CFP exam.  

In this episode, Jerry and Adam give their best tips and tricks for tackling the case study section of the CFP Exam! 

In this episode of BIF Bites, Jerry and Adam dive into the fascinating world of business cycles and economic indicators.

They explore the four phases of the business cycle and discuss how these cycles impact the economy. The crew also breaks down the different types of economic indicators, focusing on leading and lagging indicators. Discover how metrics like new building permits and stock prices serve as early signals of economic shifts, while indicators such as unemployment duration and the consumer price index confirm trends after the fact.

Tune in to gain a deeper understanding of how these indicators help economists and investors navigate the ever-changing economic landscape.