By David T. Phillips, CEO of Estate Planning Specialists
Estate Planning Made Easy, is a podcast hosted by David T. Phillips, CEO of Estate Planning Specialists. With 52 years of estate planning experience, David is recognized nationally as “the source”
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The podcast currently has 13 episodes available.
In today’s podcast, David Phillips discusses the blessing and the curse of building and leaving your Qualified Accounts, like your IRA or 401k to your children and grandchildren. While our goal is to build security for our future retirement, there is such thing as too much. By leaving our Qualified money to our heirs we are simply subjecting them to a greater tax on their income as well as on the Qualified money you leave them.
The 2020 SECURE Act eliminated the Stretch IRA and introduced the onerous “10-Year-Rule.” All inherited Qualified Accounts must be distributed and cleaned out 10 years from the passing of the surviving spouse. In Part 1 of the series of Qualified Account distributions, David will not only discuss the new rules of engagement, but he will also share key strategies that you can implement to help mitigate this huge tax liability.
Chapters:
01:30 – One of the most common and most destructive estate planning mistakes is to NOT plan for the proper distribution of your Qualified Accounts to your children and grandchildren.
02:15 – The number one enemy of retirement is longevity. Living too long can stress our assets so much that we eventually run out of money.
03:00 – Another enemy to our retirement savings is taxes. Since Qualified Accounts like an IRA have never been taxed, when we, or our beneficiaries touch even a dime, income taxes are levied at the tax bracket of the recipient.
04:45 – The US government plans on using “off balance sheet assets,” like cash in Qualified Accounts to pay off the $32 trillion deficient.
06:00 – Introducing The 2020 SECURE Act – The Tax Bomb set to evaporate 50% of your Qualified Accounts and disinherit your children and grandchildren.
07:00 – The SECURE Act eliminated the Stretch IRA. The Bombshell Battle Plan, Special Report explains the rules as well as way to navigate the perils of leaving Qualified money to your children. It is available at www.shop.epmez.com
09:00 – Required Minimum Distributions (RMD) now begin at age 73. Distributions are required from age 73 until the account is run dry. If there is any left and the children inherit it, they will have to take distributions based on the same RMD table as the grantor.
10:00 – How to mitigate this forced income tax? Spend it, convert it to a Roth IRA, give it to charity, and/or create a Tax-Free Wealth Creation Strategy with a permanent life insurance policy.
16:00 – Don’t disinherit your family. Go on the offensive and read The Bombshell Battle Plan special report.
17:30 – Wealth Creation through the Discounted Dollar Strategy. Take a few dimes today to create guaranteed dollars for tomorrow to pay the taxes.
18:00 – More insights and solutions in the next episode.
Learn more:
Contact:
• Estate Planning Specialists at 888-892-1102
• The Durfee Law Group at 480 324-8000
See omnystudio.com/listener for privacy information.
In this episode David Phillips, CEO of Estate Planning Specialists shares some exciting investor news. First he tells the story of his Aunt Mary, who had to “spend down” her meager assets so she could qualify for Medicaid, leaving no inheritance for her family. There is a new Return of Premium Long Term Care Plan that is providing 10% more in monthly TAX FREE Indemnity Benefit than the current champion. For example, a 60 year old with a $1 deposit immediately has $5 available for care, growing to $7 at age 70 and $10 at age 80, (a transfer $100k = $500,000 in Long Term Care Benefit immediately, which grows to $700,000 in benefit in 10 years).
The most exciting news of this announcement is that no medical exam or qualifying interview are required if you apply between ages 40 and 65. If you are healthy with a clean medical background, you can be approved within 24 hours! Go to ROPLTC.com or epmez.com and order a personal example on how the plan would work for you and your family. Or order the undated Return of Premium LTC for free by using the discount code CLIENT at shop.epmez.com.
Chapters:
0:00 – Will announce a breakthrough in the world of Long-Term Care
0:30 - The story of Aunt Mary
2:30 – Aunt Mary’s goal in life was to leave a financial legacy to my Mother and Aunt – Because she had to “spend down” her meager assets so she could qualify for Medicaid, the results were sadly there was no money left for anyone.
3:30 – 72% probability that if we are over 65 we WILL experience a long term medical event
4:00 – Introduction of a brand-new Return of Premium LTC Plan with benefit 10% more than the current champion
6:15 – With this ROP LTC plan a 60-year-old repositions $1 deposit from your right pocket to your left pocket, it immediately increases to $5, for care.
8:15 – At age 70, the $1 increases to $7 because of the 3% inflation rider. At age 80, or 20 years, a 60-year old’s $1 grows to $10!
9:30 – The monthly Long Term Care benefit is paid out as a Cash Indemnity TAX FREE monthly benefit.
10:15 – If you don’t trigger the LTC monthly benefit and you pass away, your beneficiaries will receive all of your deposit, plus a multiple of that deposit ($100,000 deposit = $170,000).
10:45 – ROP LTC is still an asset on your balance sheet – not a “use it or lose it proposition.”
12:00 – Order ROP LTC Special report at shop.epmez.com, use the discount code CLIENT to receive the report at no cost.
14:00 – Go to ROPLTC.com, or empez.com and order a personal example on how the plan would work for you and your family
14:30 – Most exciting part: No medical exam or qualifying interview if you apply between ages 40 and 65. If you are healthy with a clean medical background, you can be approved within 24 hours!
15:30 – The new ROP LTC plan is available up to age 76 if you are moderately healthy and have a cognitive interview
16:30 – Order the undated Special Report at shop.epmez.com, use the discount code CLIENT
17:00 – Next episode – How to plan the proper distribution of your IRA to the next generation.
Learn more:
Contact:
• Estate Planning Specialists at 888-892-1102
• The Durfee Law Group at 480 324-8000
See omnystudio.com/listener for privacy information.
In this podcast, David Phillips continues his discussion about wealth strategies and retirement savings with Todd Phillips, the author of the book "The Future Retirement Savings." Together they show you how to protect your estate from investment loss and market risk, discussing how you can avoid one of the main Longevity Risks, which is running out of money. They cover important topics such as creating guaranteed lifetime income, fool proof your investments by investing in safe money vehicles that allow you to participate only in the upside of the market, with zero market risk, and how to earn an upfront deposit bonus of 8%.
Chapters:
0:00 – Using permanent life insurance to guarantee your posterity an inheritance, no matter how the markets perform, how much you spend or the taxation laws of the day.
1:00 – Introduction of Todd Phillips, co-author of Generational Wealth Strategies Newsletter – Safe Money Corner and Best of the Month columns. (see show notes)
2:00 – How to end up a winner at the Blackjack table: TAKE SOME CHIPS OFF THE TABLE
3:50 – What is “Safe Money Investing?” – Todd Phillips
4:00 – Guaranteed lifetime return of at least 5%
5:50 – Todd’s book The Future of Retirement Savings (Guaranteed Income: How to Lock in Double-Digit Returns for the Rest of Your Life).
7:00 – What is an Indexed Annuity?
8:10 – Indexed Annuity – Use a stock market index as your interest market, but not actually investing in the index. When it is negative – you get zero interest for the earnings period, with no loss to your previous gains.
11:50 – Difference between income return and walkaway return. Todd: “If something sounds too good to be true, it usually is!”
12:10 – Indexed Annuities – behind the scenes!
14:10 – Todd’s favorite Indexed Annuity today, $100,000 deposit gets an 8% upfront deposit bonus = $108,000 total deposit.
15:58 – Worry Free Income For Life Annuity - 65 year old couple deposits $1 million = $111,000 a year guaranteed income for life if they wait 5 years to begin taking income. Will double if either couple has a Long Term Care event.
18:10 – Staff trained to help clients find “safe money” opportunities. Call 1-888-892-1102
18:40 – Generational Wealth Strategies newsletter – Best of the Month – A Unicorn
Learn more
Contact:
• Estate Planning Specialists at 888-892-1102
• The Durfee Law Group at 480 324-8000
See omnystudio.com/listener for privacy information.
In this podcast, David Phillips discusses wealth strategies and retirement savings with Todd Phillips, the author of the book “The Future Retirement Savings.” Together they show you how to protect your estate from investment loss and market risk, discussing how you can avoid one of the main Longevity Risks, which is running out of money. They cover important topics such as creating guaranteed lifetime income, fool proof your investments by investing in safe money vehicles that allow you to participate only in the upside of the market, with zero market risk, and how to earn an upfront deposit bonus of 8%. David begins this episode with a cautionary story about a couple from Missouri who lost their entire IRA by unknowingly investing it with a crook. This episode also provides valuable insights and advice on securing your wealth and planning for a comfortable retirement.
Chapters:
0:00 – Introduction of Special Guest, Todd Phillips, President of Estate Planning Specialists and author of The Future of Retirement Savings and coeditor of Generational Wealth Strategies’ monthly column, Safe Money Corner.
1:40 – Story of a physician who invested poorly and lost his IRA and a good share of his wealth and future income.
4:25 – Longevity Risk – Market volatility
5:19 – What is safe money investing – Todd explains.
6:05 – Financial Gurus, Mark Skousen, Forecasts & Strategies, Bob Carlson, Retirement Watch, Dr. David Eifrig, Retirement Millionaire, recommend safe money investing for a portion of your portfolio.
7:20 – Diversify – Skousen says to “take some chips off the table and reposition it into safe money investments.”
8:30 – Yale Endowment Fund portfolio 25% - 40% in safe money, depending on your age.
9:24 – The impact of the Sequence of Returns
11:45 – Special Annuity – recommended by Roger Michalski of Eagle Publications, named the Eagle Worry Free Income For Life Annuity, that will generate a guaranteed lifetime income, with a payout as high as 11.1%
12:40 – How to avoid the Longevity Risk of running out of money.
14:30 – Todd new book - Guaranteed Income: How to Lock in Double-digit Returns for the Rest of Your Life
15:35 – No excuse to not have a percentage of your portfolio in safe money especially with The Eagle Worry Free Income for Life Annuity
Call Todd Phillips @ Estate Planning Specialists
Learn more:
Contact:
See omnystudio.com/listener for privacy information.
David T. Phillips introduces the answer to today’s Long Term Care Crisis – Leveraged Care Solutions. The old styled Long Term Care insurance has given way to the more popular and client friendly Leveraged Care Solutions, also referred to as Asset Based Care planning. By shifting assets from one pocket to another, you can create a tax-free cash indemnity long term care benefit that is immediately valued three times your overall deposit. Depending on the plan you choose, your Leveraged Care benefit can increase with interest appreciation or an inflation rider.
David explains the difference between the three new LCS options: Life Legacy/LTC Strategy, Return of Premium LTC (ROP LTC), and the LTC Annuity. In each case if you never use the LTC benefit, your deposit, life insurance benefit or deposit plus interest is returned to your beneficiaries. David also provides a handy Leveraged Care Solution Summary comparison chart.
Chapters:
00:45 – The number one Longevity Risk – Experiencing a Long-Term Care medical event.
03:00 – Asset Based Care planning also known as Leveraged Care Solutions (LCS).
03:45 – LCS provides tax-free cash to pay for a long-term care event, if the benefit is never trigger, your deposit is returned to your beneficiaries.
04:30 – LCS financial pie chart. Simply a repositioning of an asset from your left pocket to your right, generating $3 of benefit for every $1 that is transferred. Thus the concept of leverage.
05:40 – Life Legacy/LTC Strategy
08:00 – Return of Premium Long Term Care Strategy – ROP LTC
09:00 – Cash Indemnity benefit
10:00 – Which LCS is best for you Summary Chart – November 2023 Generational Wealth Strategies newsletter.
11:15 – Long Term Care Annuity
13:30 – Request a personalized example of how Leveraged Care Solutions can help you and your family.
15:00 – 46% of Americans over age 50 erroneously believe that Medicare covers Long Term Care – IT DOESN’T.
16:30 – Next episode – how to combat estate reduction due to poor investment choices.
Learn more:
Contact:
See omnystudio.com/listener for privacy information.
In this week’s episode I will explain what is Longevity Risk. I will also reveal what is the number one Longevity Risk – experiencing a Long-Term medical event. Statistics show that 72% of all adults over the age of 65 in the United States today will suffer through a Long-Term Care experience. Are you prepared? By losing the value of your estate to pay for a long-term care event, you obviously are going to reduce the overall size of your estate and therefore your children’s inheritance. You most likely will require of them. The level of “life-changing” assistance you will need will be dependent on how prepared you are. In next week’s episode I will explain in detail the answer to the LTC Crisis – Leveraged Care Solutions.
Chapters
02:00 – Estate Planning is imperative.
02:30 – What is Longevity Risk?
03:00 – Identifying the top Longevity Risks.
04:00 – Number one Longevity Risk – Having a Long-Term Care experience.
05:30 – “David Downer,” 60% of men and 80% of women over age 65 will have a Long-Term Care event.
06:45 – The push for multi-generational homes so that our children will take care of us, to preserve our estate.
08:00 – Selfish to force our children to take of us. Totally changes the lifestyle of our children.
9:00 – COVID 40% of all deaths occurred in a care facility – Alone.
10:00 – Leveraged Care Solutions – Special Report.
12:00 – The folly of the Washington Cares Act of 2022.
14:40 – Leveraged Care Solutions – reposition a small portion of your estate to create a leveraged benefit that will take provide the Tax-Free cash to take care of a Long-Term Care event.
Learn more:
Contact:
See omnystudio.com/listener for privacy information.
By law every American can gift $18k annually, to anyone they want, completely gift, estate and income tax free. Many are reluctant to use their gifting allowance for several reasons:
* Because the gift is irrevocable, they incorrectly believe that the asset is unavailable to them during the balance of their life.
* They erroneously believe that if they give the gift today, they could run out of money.
* They mistakenly believe that the gift must be given to the beneficiaries in spendable cash now and therefore will lessen their incentive to work.
* They don’t understand the power of The Gift Tax Leverage Strategy.
In this week’s episode I will explain how proper gifting will not only give the giver fulfillment during their life, it can produce generations of powerful, productive people. I will also show you how to leverage your annual gifts to the max.
Chapters
00:30 – Toy Story – The Woody and Andy saga
02:00 – The power of leveraged gifting
03:25 – Never run out of money and fly first class forever
04:20 – 2024 annual gift allowance = $18,000 to as many people as we want
05:45 – Gift Tax Leveraged Strategy (GTLS)
06:15 – GTLS example: Couple age 65, annual deposit of their combined annual $36k gift to one child = $3,000,000 TAX FREE estate
8:30 – Call 1-888-892-1102 to receive your personal example of The Gift Tax Leveraged Strategy
9:00 – Wealth Creation Strategy Table
11:00 – Next episode topic revealed – How to Solve The Long-Term Care Crisis
Learn more:
* Wealth Creation Strategy Table
* Estate Planning Made Easy website
* shop.empez.com, use discount code: EPMEZ to receive a 50% discount
* The 10 Most Common Estate Planning Mistakes, 4th Edition, by David T. Phillips
* Generational Wealth Strategies newsletter
Contact:
Estate Planning Specialists at 888-892-1102
The Durfee Law Group at 480 324-8000
See omnystudio.com/listener for privacy information.
Logic would tell us, if we simply plod through life, ignoring any legal opportunities to pay less income and capital gains taxes, the less we will have to spend during retirement and the less we will leave our posterity. In Episode Five of Estate Planning Made Easy, The Podcast, David reveals key investments that either postpone taxes or accumulate totally income and capital gains TAX FREE. David further explains:
* The power of using the Step-up in Basis when planning your estate.
* How The SECURE Act is the Stealth estate tax.
* Why you should convert your IRA to a Roth IRA
* Why The Family Bank Strategy, is the Holy Grail, and the premier vehicle to not only accumulate and distribute tax free wealth, but it is also the absolute best way to pass TAX FREE wealth to your posterity.
Chapters:
01:00 – First Estate Planning Mistake is to die Intestate
02:40 – Misunderstanding Portability – Mistake #3
03:00 – Avoid taxes on investments
05:00 – Step-up in basis – explanation
07:30 – Precious metals
08:00 – Deferred Annuities
09:00 – Create your own Retirement Time Machine
10:00 – Qualified accounts – Tax advantages and trade offs
11:30 – 2020 SECURE Act explained
12:15 – Break
12:30 – Roth conversion explained
13:30 – Tax bracket management game
14:30 – The Family Bank Strategy
15:30 – The Gift Tax Leverage Strategy
16:30 – Next episode introduced – The Power of gifting
Learn more:
* Estate Planning Made Easy website
* shop.empez.com
* The 10 Most Common Estate Planning Mistakes, 4th Edition, by David T. Phillips
* Generational Wealth Strategies newsletter
* The Future of Retirement Savings, by Todd Phillips
* The Bombshell Battle Plan, by David T. Phillips
Contact:
Estate Planning Specialists at 888-892-1102
The Durfee Law Group at 480 324-8000
* How to Create Your Retirement Time Machine
Receive a 50% discount on all our books and reports (not the Analysis) by using the discount code EPMEZ at https://shop.epmez.com/.
See omnystudio.com/listener for privacy information.
For centuries, an estate planning attorney was solely an attorney that represented clients before a probate judge, in an effort to maximize the desired estate transfer. They would simply help draft a will and represent that will in court to validate it. While the phone book is full of so-called estate planning attorneys, most still follow this philosophy.
A true estate planning attorney, however, is much more than a “hearse chaser.” He helps you craft a logical distribution plan that has true dynasty provisions avoiding the expenses of probate, blessing multiple generations. My firm, Estate Planning Specialists, is the quarterback of your estate plan. We make certain your plan maximizes your dreams, and takes advantage of all loopholes, strategies, and top products.
In this podcast, I explain how this can be done by ignoring Portability, and establishing an A/B Credit Shelter Trust. Using this little-known estate planning technique, you not only avoid probate, the Credit Shelter “B” Trust can grow to unimaginable sums with absolutely no future federal or state estate taxes. What’s more, this tax-free growth can last as long as there are assets in the trust.
Currently, the federal estate exclusion is the highest it has ever been, at $13.6 million. It is set to plummet to $6 million on December 31, 2025, a day known as Tax Doomsday! To discover how you can take advantage of this gigantic exclusion this year, you will want to read the latest 4th edition of my book ''The 10 Most Common Estate Planning Mistakes and How to Avoid Them,'' by going to https://shop.epmez.com/, and by subscribing to our monthly newsletter, Generational Wealth Strategies newsletter.
00:30 Welcome
01:20 What is Portability? Is it good for all estates?
02:25 What is better Portability or an A/B Credit Shelter Trust
03:00 Current 2024 federal estate credit with a A/B Credit Shelter Trust (diagram)
04:00 The 2025 Tax Doomsday (diagram)
05:30 The advantages of an A/B Credit Shelter Trust vs. Portability
08:35 Contact The Durfee Law Group – 480-324-8000
09:20 The disadvantages of Medicaid planning
11:00 EPS Proprietary Estate Planning Solutions Suite, call our offices 888-892-1102, email [email protected], or download the estate profile form
12:00 The 10 Most Common Estate Planning Mistakes book, shop.epmez.com
Links:
See omnystudio.com/listener for privacy information.
Since the beginning of civilization, it has been very difficult for a king to keep his castle and kingdom for any great length of time. Someone, usually an enemy, would go to great lengths, with the loss of thousands of constricted soldiers in an effort to conquer another’s castle. That is reason why walls, moats, draw bridges, parapets and 24-hour defenses were placed around most medieval castles. To protect the treasury, the family, and the kingdom. Many of those that have not, want what those that have, have, and they will go to great lengths to take what they want.
Today, governments take from the affluent in the form of taxation. We are taxed most of our lives, through income, sales, capital gains, property taxes. We also must pay a transfer tax for the privilege of passing our assets to those we leave behind, better known as estate and gift tax.
In this week’s podcast, David T. Phillips, CEO of Estate Planning Specialists will reveal the importance of exploiting the currently lofty $13.6 federal estate and gift tax exclusion, before it “sunset” or drops down to $6 million on December 31, 2025, known as Tax Doomsday! David will also explains the new rules created by The SECURE Act of 2020, also known as the “Stealth Estate Tax.” He will expose little know secrets on how to mitigate the enormous tax bite of The SECURE Act and introduce listeners to the powerful RMD Leveraged Strategy.
00:35 Everyone needs a logical distribution plan
00:50 For some reason politicians and governments constantly interfere in our estates – no voters in cemeteries
01:30 Estate or transfer tax in Europe is much higher than the U.S.
02:10 Tax the pennies on your eyes
03:50 Current federal estate exclusion in the U.S. is $13.6 million each at your passing
04:25 Tax Doomsday 2025
05:50 17 states still charge an inheritance or transfer tax
06:25 Tax Cut and Jobs Act “Sunset Provision.” Federal estate exclusion to be significantly reduced
08:05 The Stealth Estate Tax – Bombshell Battle Plan report (shop.epmez.com)
09:50 The SECURE Act 10-year rule
10:25 The Required Minimum Distribution Leveraged Strategy (RMD)
10:00 Estate taxes and even inherited IRA taxes are voluntary – but you must do prior planning
Learn more:
* Estate Planning Made Easy website: https://epmez.com/
* The 10 Most Common Estate Planning Mistakes, 4th Edition, by David T. Phillips: https://shop.epmez.com/products/the-10-most-common-estate-planning-mistakes-and-how-to-avoid-them-4th-edition
* Generational Wealth Strategies newsletter: https://www.generationalwealthnewsletter.com/offer/generational-wealth-retirement-and-estate-survive/?source=GWRES30&step=2
* Our proprietary estate planning solutions suite. Order at shop.epmez.com
Contact:
* Estate Planning Specialists at 888-892-1102
* The Durfee Law Group at 480 324-8000
Receive a 50% discount on all our books and reports (not the Analysis) by using the discount code EPMEZ at https://shop.epmez.com/.
See omnystudio.com/listener for privacy information.
The podcast currently has 13 episodes available.
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