Estate Planning Made Easy

Estate Planning Mistake 7: Improperly Planing Distribution of Retirement Accounts

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.com09:00 – 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: 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 The Bombshell Battle Plan: How to Defend Against the IRS Secret Weapon, at shop.epmez.com Generational Wealth Strategies newsletter Contact:    •    Estate Planning Specialists at 888-892-1102    •    The Durfee Law Group at 480 324-8000See omnystudio.com/listener for privacy information.

How to Leverage $1 today and create $10 for your care later in life!

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 Care0:30 - The story of Aunt Mary2:30 – 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 event4:00 – Introduction of a brand-new Return of Premium LTC Plan with benefit 10% more than the current champion6:15 – 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 family14:30 – 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 interview16:30 – Order the undated Special Report at shop.epmez.com, use the discount code CLIENT17:00 – Next episode – How to plan the proper distribution of your IRA to the next generation. Learn more: 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 480 324-8000See omnystudio.com/listener for privacy information.

Estate Planning Mistake #7 continued: Estate shrinkage due to investment losses. How to insulate your wealth from all risk and guarantee an inheritance. Special guest: Todd Phillips, President of Estate Planning Specialists

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 TABLE3:50 – What is “Safe Money Investing?” – Todd Phillips4:00 – 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 1-888-892-110218:40 – Generational Wealth Strategies newsletter – Best of the Month – A Unicorn Learn more  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 Todd’s Safe Money Corner: Best of the Month column ROPLTC.com website for information specific to Return of Premium LTC (ROP LTC).

 After LCS Financial Snapshot chart Call 888-892-1102 to preorder Todd Phillips’ new book: Guaranteed Income: How to Lock in Double-Digit Returns for the Rest of Your Life, www.shop.epmez.com Contact:    •    Estate Planning Specialists at 888-892-1102    •    The Durfee Law Group at 480 324-8000See omnystudio.com/listener for privacy information.

Estate Planning Mistake #7: Estate shrinkage due to investment losses. How to insulate your wealth from all risk and guarantee an inheritance. Special guest: Todd Phillips, President of Estate Planning Specialists

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: 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 Todd’s Safe Money Corner: Best of the Month column ROPLTC.com website for information specific to Return of Premium LTC (ROP LTC) After LCS Financial Snapshot chart Call 888-892-1102 to preorder Todd Phillips’ new book:  Guaranteed Income: How to Lock in Double-Digit Returns for the Rest of Your Life Contact: Estate Planning Specialists at 888-892-1102The Durfee Law Group at 480 324-8000 See omnystudio.com/listener for privacy information.

The answer to today’s Long-Term Care Crisis – Leveraged Care Solutions

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 Strategy08:00  – Return of Premium Long Term Care Strategy – ROP LTC09:00 – Cash Indemnity benefit10:00 – Which LCS is best for you Summary Chart – November 2023 Generational Wealth Strategies newsletter.11:15 – Long Term Care Annuity13:30 – 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: Estate Planning Made Easy website: shop.empez.com, use discount code EPMEZ to receive a 50% discount Leveraged Care Solutions: Answers to Today’s Long Term Care Crisis The 10 Most Common Estate Planning Mistakes, 4th Edition, by David T. Phillips: Generational Wealth Strategies newsletter ROPLTC.com website for information specific to Return of Premium LTC (ROP LTC). After LCS Financial Snapshot chart Leveraged Care Solution options table Contact: Estate Planning Specialists at 888-892-1102 The Durfee Law Group at 480 324-8000 See omnystudio.com/listener for privacy information.