BIF Bites

Peace, Love, & Crummey Powers

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.

You Passed Your CFP(r) Exam... What Comes Next?

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

Question Palooza - Estate Planning (July 2025 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. 

Question Palooza - Retirement Planning (July 2025 Exam)

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.  

Question Palooza - Tax Planning (July 2025 Exam)

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.