Finances

David T. Phillips, CEO of Estate Planning Specialists reveals 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!

A true estate planning attorney helps you craft a logical distribution plan that has true dynasty provisions avoiding the expenses of probate, blessing multiple generations. In this episode of the Estate Planning Made Easy podcast, David T. Phillips explains 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.

In episode 5 of the Estate Planning Made Easy podcast, David T. Phillips reveals key investments that either postpone taxes or accumulate totally income and capital gains tax free.

Estate planning expert David T. Phillips explains how proper gifting will not only give the giver fulfillment during their life, it can produce generations of powerful, productive people. He also shows you how to leverage your annual gifts to the max.

This segment focuses on aspects of the admissions paperwork that are subject to federal rules when a senior love one comes into a skilled nursing facility.

Here is a guide to help people who are worried about long term care costs in the future. There are three basic strategies: do nothing, buy insurance, or give away assets. When giving away assets, there are two approaches: direct gifts, and an irrevocable trust. This segment focuses on direct gifts. A PowerPoint presentation accompanies this segment — watch this segment on YouTube’s Answers For Elders channel.

This hour presents a who's who of people who should be involved in your estate plan, and how to choose people to have power of attorney – specifically, the personality traits they should have. For Powers of Attorney (General and Health Care), you need to choose an Agent, First successor agent, Second successor agent, and Others.

Learn how to appoint people to represent you in situations where you're unable to act for yourself – a who's who of people who should be involved in your estate plan. This segment focuses on living wills. One person does the job – pick one person.

Learn how to appoint people to represent you in situations where you're unable to act for yourself. This segment focuses on after you pass away. You can choose between a will-based estate plan or a trust-based estate plan.

This hour is about how to appoint people to represent you in situations where you're unable to act for yourself – a who's who of people who should be involved in your estate plan. This segment focuses on Revocable Trusts — Grantors are initial trustees, Successor Trustee, HIPAA Release.