Past Episodes

The Laws of MOney

BoomX Show
Ria

Thinking Like a Bank with Sarry Ibrahim

In this episode, Darol interviews Sarry Ibrahim, a young financial professional from Chicago, and they do just that. Sarry shows listeners can protect their privacy and assets by using a unique investment vehicle.

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BoomX Show
Ria

How to Guarantee Income with Rental Properties

An investment is a lump sum deposit in exchange for income in the future. A business differs from investment because a business generates immediate income for its employees and dividends for its owners. What if you could have an investment that generated immediate income without demanding time and labor?

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BoomX Show
Ria

Why I gave Infinite Banking the Thumbs Up

Infinite Banking refers to a method of cash management using a carefully designed whole life insurance policy. A whole life policy distributes cash to the beneficiary when the insured dies. The insured, usually the policy owner, does not directly benefit for an obvious reason – they are dead. This begs a question – is there a reason to store cash in a whole life policy other than a tax-free death benefit? Proponents of Infinite Banking would answer “yes.”

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BoomX Show
Ria

Answers To Common Questions About Asset Protection Planning

If you had lingering questions about probate, living trusts, Spousal Protection Trusts, and Medicaid liens, this is the episode for you. In particular, the following questions are answered:

Question 1: What is the difference between a Spousal Protection Trust, and a Medicaid Asset Protection Trust?

Question 2: If you create a Medicaid Asset Protection Trust, do you have control over the money? Do you pay your own bills?

Question 3: How do Medicaid liens and penalties work? What is the five-year rule?

Question 4: Why is Puerto Rico so loud?

Question 5: When you create a trust, are you required to declare the purpose and intent of a trust?

Question 6: What is the best document to lay out your asset protection/retirement plan?

Question 7: Why does probate get such a bad rap?

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BoomX Show
Ria

When to use a TOD transfer and how it can screw up everything

Estate planning overemphasizes the transfer of asset title to a qualified heir when the asset owner has died. There are three ways in which property transfers when the asset owner dies: 1) probate, 2) operation of law, and 3) transfer on death deeds and beneficiary designations. This episode lays out the ways property transfers at death, the pros and cons of each method, and when to use each.

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BoomX Show
Ria

Tale of Two Lawyers Darol Interviews the Savvy Estate Planner

The best podcasts are conversations between people who are authentic, proficient in their subject matter, and willing to share their knowledge to help others. This episode is just that, a candid conversation between two experienced asset protection attorneys. Join us as Darol interviews James Cunningham, founder and CEO of Cunningham Legal, a California personal and business planning law firm, and author of the Savvy Estate Planner. Jim and Darol hit it off, share stories about their careers, and lay out solid tips to help families grow and protect their families’ wealth.

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BoomX Show
Ria

How to Set Up and Properly Fund a Retirement Account Trust

Coordinating retirement accounts, e.g., an Individual Retirement Account, a 401(k), Self-employed Pension, etc., with your overall estate plan is difficult. Retirement accounts, also known as “qualified accounts”, must be handled with care. Generally, if the account owner designates his or her estate as the primary beneficiary, the non-natural person rule is triggered, and the entire account balance is treated as paid out as income. This causes the distribution of the entire account as income and is taxed at a higher or the highest tax rate possible. Other complications include the fact that retirement accounts are included in the taxable estate when the decedent lives in a state with a separate estate tax. Worst, retirement accounts do not enjoy an adjusted tax basis.

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BoomX Show
Ria

The Spousal Protection Trust and How to Fund It

As part of Academy weekly Office Hours, Darol answers the following questions asked by a Family Leader: “what happens once you have everything protected in a trust? Is it readily accessible to the surviving spouse or the person in charge of the estate?”

Darol answers this question in-depth and goes further by explaining why the Spousal Protection Trust is what most couples need, its advantages, and how to fund the trust.

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BoomX Show
Ria

Asset Protection Masterclass Part 2

BoomX Academy conducts free masterclasses each month on topics related to asset protection. This episode is the second part of the most recent masterclass. Listen in and learn more about the following topics:

1) Why estate planning has little value as compared to asset protection, which has great value.
2) How safe harbors in the Law are available to protect wealth against the three threats to wealth in America today.
3) The threats to wealth are high unreimbursed medical care costs, unnecessary taxation, and financial mismanagement.
4) The benefits of a Spousal Protection Trust and how it works.
5) Why two recent legal changes wreaked havoc on inherited retirement accounts.
6) How a Retirement Account Trust gives back what these legal changes took away.

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BoomX Show
Ria

Asset Protection Masterclass Part 1

When we talk about retirement accounts, we’re talking about all of those accounts related to a statute called ERISA, which has to do with employment, retirement benefits, and risks authorizing more than one type of retirement account. And you all are likely familiar with it.

Estate planning doesn’t kick in until you’re dead while asset protection reaches out and grabs safe harbors in the law that guaranteed that our wealth will not be lost to number one, unreimbursed medical expenses, long-term care costs. Number two, unnecessary taxation, and then even three, can we use asset protection trust to protect against mistakes, family mistakes financial mistakes, stock market risks.

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BoomX Show
Ria

How Trust Protector and Trust Reporting provisions affect your estate plan

If you implement the strategies that we teach at the BoomX Academy and talk about on the BoomX Show, the probability that you successfully finance your retirement is much higher. But the question remains, how do we pass wealth on to our kids so that it is financially responsible? Today, we will talk about two very important provisions that you’ve probably never even thought about.

One is the trust protector. The second is provisions inside of your estate plan for trust reporting so that all the beneficiaries know what is going on and are emotionally invested in it.

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BoomX Show
Ria

What You Need To Know About Medicaid

We take a deeper dive into Medicaid in this episode. I walk a BoomX Academy student through Medicaid strategies, basic Medicaid rules, how Medicaid works, and proven strategies to use Medicaid to your advantage, lawfully and ethically.

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