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

• To Roth 2023 Federal Income Tax Rate Married Filing Jointly graphic
  * Gift Tax Leverage Strategy: Male & Female Age 65 Good Health graphic

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 david@epmez.com, or download the estate profile form

12:00 The 10 Most Common Estate Planning Mistakes book, shop.epmez.com

Links:

• Estate Planning Made Easy website
• The 10 Most Common Estate Planning Mistakes, 4th Edition, by David T. Phillips
• Generational Wealth Strategies newsletter
• Proprietary Estate Planning Solutions Suite: Call our offices 888-892-1102, email david@epmez.com.
• Contact Estate Planning Specialists at (888) 892-1102 and 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.