Estate Planning Mistake #4: Paying too much income and capital gains taxes

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.