Shows
The BoomX Show: Laws of MoneyLiving Trusts Overhyped? The Truth About Asset ProtectionIn this episode of The Boom(X) Show: Laws of Money, we explore the myths and realities surrounding one of the most hyped estate planning tools—the living trust. Our guest, a thought leader in planning and the creator of the Planning Profile Builder, shares insights on how many professionals oversell living trusts, particularly for asset protection, and why this approach could be flawed.Join us as we flip the script on traditional estate planning strategies. Discover the difference between the Money Models—Estate Transfer, Asset Protection, and Family Wealth Building—and learn why a one-size-fits-all solution, like t...
2024-09-2721 min
Jock's Celtic CalamityJCC Show No 503Send us a textArtist, TitleBattlefield Band, Ton Bale Leon Braz (Big Leon's March)/ The People's Jig / Ash City / Blackjack GroveOpen the Door for Three, Mary and the Soldier (Live)Éamonn O'Riordan & Tony O'Connell Feat. Brian M…, Áine's Reel / Gan Ainm / The Clare Reel (Reels)Lau, Butcher BoyPat Kilbride Kieran Fahy, Slieve Russel - EavesdropperKenneth I MacKenzie, Derek Wightman, John Grah…, Ian Mackenzie's Farewell To The ClydeSuzanne Uí Ghallachóir, Bean Uí BhaoillGerry Hallom, W...
2024-09-202h 00The BoomX Show: Laws of MoneyHow a Family Protection Trust provides support for loved ones who struggleIn this episode of the BoomX Academy podcast, asset protection attorney Darol Tuttle joins Family Leaders to discuss the challenges faced by families with members who struggle with various issues such as addiction, disability, disease, ADHD, bipolar disorder, and autism. These individuals often face unemployment or underemployment, leading to unmet shelter and basic needs without familial support. The conversation highlights a critical concern: the long-term impact on these vulnerable family members after the primary caregiver is no longer around.The episode delves into the lack of consideration for the future well-being of these individuals once their parents...
2024-06-1847 minThe BoomX Show: Laws of MoneyMedicare Advantage Plans: What You Need to KnowIn this insightful episode of the BoomX Show Laws of Money Podcast, host Darol Tuttle and special guest Mayra Perez, a licensed sales agent specializing in Medicare Advantage plans with SelectQuote, delve into the intricacies of social security and Medicare retirement benefits.Key Topics Covered:Social Security Claiming Strategies:Mayra clarifies the various options for claiming social security benefits, explaining the impact of claiming as early as age 62 versus waiting until full retirement age or beyond.She emphasizes the potential benefits of delaying claims up to age 70 to maximize monthly payments.Medicare Enrollment Process:Understanding the...
2024-05-2743 minThe BoomX Show: Laws of MoneyYour health care plan should be expressed in a legal document. Here's why.The best place to express your desires for health care is within the four corners of a legal document, to wit: a health care power of attorney, advance directive, and a records release. Learn why in this episode and how you can create your own set of documents. You will also learn why care costs are so expensive and what that means for many patients. The reason the medical services industry is the most frequent target of cyber break-ins and theft also explains why so many go broke in retirement. Protecting yourself and your assets...
2023-03-0127 min
Answers For Elders Radio NetworkAsset Protection Planning StoriesAsset protection attorney Darol Tuttle joins Suzanne. Darol shared a couple of stories. "I grew up poor, a farm boy. When I was three years old, I watched my grandfather die right in front of me. I can remember that vividly. Our family went on a different course from that day on. Our grandmother lived with us — she died two years ago, she lived another 54 years alone, relying on family members. And so, for me, the silver tsunami is biased, it's not gender neutral, it adversely affects women. The great thing is, the law has solutions." BoomX.bi...
2023-02-2311 min
Answers For Elders Radio NetworkAsset Protection Planning WebsiteAsset protection attorney Darol Tuttle joins Suzanne. Suzanne asks what is the easiest way to get started. Darol says, "The old model is you go to an expensive lawyer's office, with doorknobs made of gold. Some of these estate plans cost $15,000. My website, which I've been pouring my heart and soul into, is a great way to start. I'm a lawyer, I have a law firm, I practice law. However, to get started, you need information, you need to process it, sitting in the comfort of your home, reading an article, listening to a podcast. I have...
2023-02-2306 min
Answers For Elders Radio NetworkBenefits of a Spousal Protection TrustAsset protection attorney Darol Tuttle joins Suzanne. In our last segment, Darol talked about a spousal protection trust. Rules have changed for living trusts. Darol explains, "If you transfer a personal residence into a living trust for Medicaid purposes, the home is no longer exempt. That's poison. There's a court of appeals case for that, if you have a spousal protection trust in your will. For this trust, the surviving spouse cannot be the executor or the trustee of their own trust. Talking about the probability of financial loss, Washington is tax obsessed right now. If you want to...
2023-02-2309 min
Answers For Elders Radio NetworkIntroducing Asset Protection PlanningAttorney Darol Tuttle joins Suzanne to talk about going beyond estate planning in asset management. Darol explains the differences between estate planning and asset protection planning. Estate planning is about handing the transfer of your wealth to heirs after you've passed on. Asset protection focuses on protecting your assets while you're still alive, to finance your retirement throughout your life, and to fund the retirement of your spouse. You want specifically to defend against the three main threats, which are high unreimbursed medical expenses, unnecessary taxation, and family mismanagement/mistakes. A great example to illustrate: Washington is...
2023-02-2310 minThe BoomX Show: Laws of MoneyCan you do anything about taxes on your wealth? A case studyThree wealth taxes are estate tax, capital gains tax, and a new concept: a tax on your investments. Regardless of what you call them, they erode your family's wealth. This episode looks at how one state, Washington, has enacted two new wealth taxes at a time when thirty states gave back to taxpayers.(See note below).Learn how federal and state taxes on wealth work, and how to leverage the exemptions available to avoid unnecessary taxation.Key Points:- Twelve states have their own estate tax. Ten do not allow each spouse to...
2023-02-2135 minThe BoomX Show: Laws of MoneyPros and Cons of LLC with Andrew AyersIn this episode, I interviewed a great attorney in Minnesota, his name is Andrew Ayers. He is a business planning and personal planning attorney and is also licensed in New York. We will give you great tips on what to look for when you are hiring an attorney in your state, or in your community, like the hidden secrets of picking a good lawyer from the perspective of two lawyers who have no dog in that fight, really. We will talk about rental properties and LLCs, and even if you do not have a rental property but j...
2023-01-1937 min
2023-01-0537 min
The BoomX Show: Laws of MoneyThinking Like a Bank with Sarry IbrahimThe best podcast episodes are those in which two people who sincerely want to help others connect, share stories, and lay out solutions. 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. This investment reduces risk, rows tax-deferred, and holds cash so that the investor can pay down debt to include current or future tax liabilities or leverage to diversify their portfolios. Darol applies Sarry’s perspective to asset protection planning. In the estate...
2022-12-0639 minThe BoomX Show: Laws of MoneyThe Legal Documents You Need in 8 MinutesLegal documents help you grow and protect your wealth, establish family decision-making, and successfully transfer your property to the next generation without unnecessary loss or stress. Illness or advanced old age may render you unable to manage your health and finances alone. In such a case, medical providers require the following legal documents:Health Care Power-of-AttorneyHIPPA-compliant medical records releaseAdvance Directive Financial Institutions require a Financial Power of Attorney. When you pass, the property you once owned will transfer to your loved ones by one of...
2022-12-0607 min
Practical Tax with Steve Moskowitz#48 | Distinguishing Estate Planning and Asset Protection and Pondering Jerome Powell’s Next Move Feat. Darol Tuttle & Mitch KramerDarol Tuttle discusses the difference between estate planning and asset protection, while Fluent Financial’s Mitch Kramer ponders the FED’s Jerome Powell’s next move.
Episode Transcript
Intro:
Welcome to the Practical Tax podcast, with tax attorney Steve Moskowitz. The Practical Tax podcast is brought to you by Moskowitz, LLP, a tax law firm.
Disclaimer:
The information contained in this podcast is based upon information available as of date of recording and will not be updated for changes in law regulation. Any information is not to be considered tax advice or legal advice and does not form an attorney/client...
2022-10-2526 minThe BoomX Show: Laws of MoneyHow to Guarantee Income with Rental PropertiesAn 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. The operation of a business is more time and labor-intensive than an investment. What if you could have an investment that generated immediate income without demanding time and labor? In this episode, Darol interviews Dustin Heiner, who explains how to do just that. Dustin quit his job at age 37 because he purchased several rental properties but outsourced the properties to reliable management. You can...
2022-09-0241 minThe BoomX Show: Laws of MoneyWhy I gave Infinite Banking the Thumbs UpInfinite 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." In addition to a tax-free death benefit, all whole life policies also store and pay dividends or accrued interest...
2022-08-2323 minThe BoomX Show: Laws of MoneyLawyer to lawyer with Ann-Marie Murzin on the history of probate law, the current Supreme Court, and an important legal document for all business owners.Darol chats with Anne-Marie Murzin, a personal and business planning attorney with the Virginia law firm General Counsel, PC., about the history of probate law and its origins, the current Supreme Court, and an important tip for business owners. To learn more about Anne Marie, check out this article about her, her practice, and her background. https://medium.com/authority-magazine/top-lawyers-ann-marie-murzin-on-the-5-things-you-need-to-become-a-top-lawyer-in-your-specific-48572a1ef624You can also learn more about her law firm here. https://www.generalcounsellaw.com/Old Bailey, mentioned in the conversation, is a criminal court in London and has operated...
2022-08-1627 minThe BoomX Show: Laws of MoneyAnswers To Common Questions About Asset Protection PlanningIt is impossible to fully understand some advanced topics merely by listening to one podcast episode. Most listeners have questions about each episode and, possibly, feel frustrated that they cannot clarify specific questions in their minds. Taken from BoomX Academy weekly Office Hours, this episode presents the questions asked during the live session of Episode 38. If you had lingering questions about probate, living trusts, Sposual 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...
2022-08-0932 minThe BoomX Show: Laws of MoneyWhen to use a TOD transfer and how it can screw up everythingEstate planning overemphasizes the transfer of asset title to a qualified heir when the asset owner has died. Estate transfer has value but not to the asset owner while they are alive. Asset protection has a different focus. Asset protection defends wealth against the modern threats to wealth, i.e., 1) unreimbursed medical expenses, 2) unnecessary taxation, 3) mismanagement, and 4) lawsuits and judgments. This video lays out the ways property transfers at death, the pros and cons of each method, and when to use each. There are three ways in which property transfers when the asset owner dies: 1) probate, 2) operation...
2022-08-0225 minThe BoomX Show: Laws of MoneyTale of Two Lawyers Darol Interviews the Savvy Estate PlannerThe 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. You can check out Jim’s law...
2022-07-2227 minThe BoomX Show: Laws of MoneyHow to Set Up and Properly Fund a Retirement Account TrustCoordinating 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 taxa...
2022-07-1912 minThe BoomX Show: Laws of MoneyThe Spousal Protection Trust and How to Fund ItS 3 EP 35 The Spousal Protection Trust and How to Fund ItAs 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. Authorized by federal law, this trust holds the assets of the spouse who died...
2022-06-1429 minThe BoomX Show: Laws of MoneyAsset Protection Masterclass Part 2Se 2 Ep 34 Asset Protection Masterclass Part 2BoomX Academy conducts free masterclasses each month on topics related to asset protection. You can learn more about these courses and register by going to www.boomx.biz. 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...
2022-05-3127 minThe BoomX Show: Laws of MoneyAsset Protection Masterclass Part 1When 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...
2022-05-1726 minThe BoomX Show: Laws of MoneyHow Trust Protector and Trust Reporting provisions affect your estate planIf 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. And therefore the probability of leaving a higher percentage of your estate to your kids, and leaving a legacy for them also increases.But the question remains, how do we pass wealth on to our kids so that it is financially responsible. And it is a money-making machine for them. And that brings harmony to the family through structures in which conflict is resolved efficiently and inexpensively...
2022-05-1028 minThe BoomX Show: Laws of MoneyWhat You Need To Know About MedicaidIf you are like most people near or in retirement, your biggest fear in terms of financing, the quality and much-deserved retirement of your dreams is unreimbursed medical expenses. We say that we have a nest egg for that rainy day. Let's face it at a certain age, a rainy day is always medical. I receive no more questions with more anxiety than those 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...
2022-04-2324 minThe BoomX Show: Laws of MoneyThe Three Benefits of a TrustTrusts are used for personal planning and hold personal assets. Business entities such as corporations, partnerships, and limited liability companies hold business assets. Many families own a rental property but fail to view the rental house as a business asset because they do not view themselves as operating a business. This is unfortunate because business entities offer many advantages, which Darol discusses in this episode. Trusts are similar to limited liability companies because the trust is able to protect assets if drafted correctly. Learn the two most important benefits of trusts that hold your family's wealth.
2022-04-0731 minThe BoomX Show: Laws of MoneyProtect Your Nest Egg Against Unwanted Expenses and TaxationOne of the missions of the BoomX Show is to help improve people's legal literacy, their financial literacy. Today, I will answer the questions of a young family leader who is building an estate plan, an asset protection plan, and his questions about tax.How do I give a gift to my surviving spouse in order to avoid not only estate tax, not only capital gains tax, but also protect the assets against the possibility of high unreimbursed medical expenses? Some of the questions that he asked and I answer in today's episode is, what is the...
2022-04-0638 minThe BoomX Show: Laws of MoneyTimeshares and Trust LawDo you own a timeshare? Want to know what it is, how to get rid of it, how to transfer it as part of your estate? I'll answer that question in today's episode. I will also dive deeper into trust law. We will talk about what a trust is, the job descriptions, trust, or trustee beneficiaries involved with a trust. We will also talk about the advantages and disadvantages of a trust. And I will answer a very common question, should I choose a professional trustee or should I choose a family member to be responsible for...
2022-01-2533 minThe BoomX Show: Laws of MoneyReduce your State and Federal Estate Tax Bill by Using a Credit Shelter TrustLarger estates face the possibility of paying a death tax. This tax erodes family wealth and the tax rate is much higher than many other types of taxes. Eleven states impose an estate tax of their own and the size of the estate that is taxable under state law is much lower. Learn what you can do to reduce your estate tax bill and avoid unnecessary taxation completely in many cases. Darol will also describe the most generous provision of the tax code and how you can use it to avoid all capital gains tax....
2022-01-1828 minThe BoomX Show: Laws of MoneyA Powerful Strategy to Protect the Inheritance of your Children while Providing for your SpouseThe BoomX Academy hosts office hours weekly, where family leaders gather and ask questions on various topics related to retirement planning, estate planning, and even long-term care planning. In this episode, we bring you inside Office Hours as a family leader asks BoomX Show host Darol Tuttle the best way to protect his estate for his children from a prior marriage while providing for his surviving spouse if she should die first. Learn how a Spousal Protection Trust works, reduces estate tax bills, and preserves the estate from Medicaid liens. If you are confused about how trusts...
2022-01-1324 minThe BoomX Show: Laws of MoneyHow to Avoid this Tragic Mistake in RetirementThe new year began with a tragic event, which occurs in retirement far too common and is completely avoidable. BoomX Show host Darol Tuttle tells the story of two actual events that occurred to retirees, sets the context by laying out the phases of retirement and alerts listeners to the risks of each phase. It is true that some mistakes have dire consequences and are even life-threatening, but there are ways to mitigate the risk of making this mistake. Join us and learn which legal document is necessary to protect yourself and your family. As always, you...
2022-01-1130 minThe BoomX Show: Laws of MoneyCompanion Course Lesson Sample: The Purpose, Use, and Benefits of a Trust"Free members of the BoomX Academy are automatically enrolled in the BoomX Show: Laws of Money podcast. The course adds enhanced content to most podcast episodes but in a module-based format sequentially. The first lesson in the companion course defines the often abused term ""estate"" and its use in the tax, bankruptcy, and probate codes. The second lesson points out the real property is different than real estate. Further, personal property is the only other category and includes tangible and intangible property. Did you know your voice is intangible personal property and may have value? This episode...
2021-11-0732 minThe BoomX Show: Laws of MoneyThe Estate Planning Problem In Downton Abbey And How To Avoid ItDownton Abbey, the PBS show about a British estate in the early 1900s, opens with a complex but fascinating estate planning problem. The owner of the estate, Lord Grantham, wakes up to the usual household activities only to learn that the qualified male heirs to the estate perished with the Titanic. Without lawful heirs, Lord Grantham faces the possibility that the estate, referred to as “Downton”, may revert back to the Crown or convey to distant, unknown family members. Within the BoomX Academy, members ask estate planning questions in live office hours weekly. Tying the two together, Daro...
2021-10-2138 minThe BoomX Show: Laws of MoneyHow to Create a Bullet-Proof Family Bank and WhyIn this episode, we will be talking about ways to create the family bank, why it's important, the benefits and the job descriptions attached to the family bank, which is an irrevocable non-grantor trust, which will protect your assets.
2021-10-1937 minThe BoomX Show: Laws of MoneyHow The Tax Bill Might Become A Law And How You Can Benefit From The Tax CodeJoin Darol and special guest Michelle Mendoza and they banter about the purpose of the new tax bill and ways to protect your retirement dollars by investing in a way that leverages the most important deductions. In particular, learn which provisions might impact your wealth and the hidden gem of the estate tax code might save your estate from paying any capital gains tax.You can join BoomX Academy for free and will be automatically enrolled in the BoomX Show Companion Course. The lesson for this podcast includes the Estate and Gift Tax publication and a thorough...
2021-10-1528 minThe BoomX Show: Laws of MoneyThe New Tax Proposals and How They Might Impact Your Retirement Nest EggThere are four types of taxes that are important to all retirees: 1) income tax; 2) capital gains tax; 3) estate tax, and 4) gift tax. New tax proposals may alter three of these types of tax and could decrease your family's overall wealth. If you feel confused by what it all means, do not worry! BoomX Show host Darol Tuttle breaksand offers resources and tips to not only understand but leverage the old and new tax laws. Simply put, this episode is about more dollars in your pocket by tax efficient investing. You can join BoomX Academy for free and...
2021-10-0740 minThe BoomX Show: Laws of MoneyHow to Increase Your After-Tax Rate of Return with Shane CloningerThey say there are two certainties in life: death and taxes. While the imposition of tax is certain, the tax rate and even the type of tax are not. This is more true than most years as President Biden's tax proposals are likely to increase tax rates on most fronts. If you feel confused by it all, this episode is for you. Join Darol Tuttle as he interviews financial advisor and BoomX Show sponsor Shane Cloninger as they summarize basic tax rules and offer powerful tips to turn the tables on unnecessary tax. Referred to as "tax-efficient...
2021-09-2032 minThe BoomX Show: Laws of MoneyYou have your LLC formation documents. Now what?Continuing the conversation with Michelle Mendoza, BoomX Show host Darol Tuttle provides explains further the legal requirements of forming a limited liability company and the annual compliance rules. He also answers Michelle's questions as she reviews the LLC operating agreement Darol drafted for her. Key points include: Limited liabilities are created by state law. Once formed, the LLC owner may make elect to be taxed as an S Corporation with the IRS. This will allow a portion of profits to be taxed free of self-employment tax. The LLC operating agreement is the business playbook. With...
2021-09-1045 minThe BoomX Show: Laws of MoneyHow to incorporate your new business and why with Michelle MendozaNew entrepreneurs often charge into their business ideas with little thought into established legal requirements of all businesses. In this episode, Darol interviews one such young business person, Michelle Mendoza, about her business goals and what she needs to do to set her business up for success. Check out Michelle's podcast, My Michelle Live.This episode lays out the steps to form a new business correctly: Step One: Draft, sign, and file your business formation documents with your state’s corporations agency. Step Two: Register your business with your state’s tax agency, typically...
2021-09-0138 minThe BoomX Show: Laws of MoneyHow to Buy the Right Long-Term Care Insurance with Brian OttMost retirees are concerned about long-term care costs. Yet, most people take no steps to mitigate the risk of high costs let alone develop a solid strategy to finance those costs. In this episode, BoomX guest Brian Ott of 525 Advisors explains the ins and outs of long-term care costs and solid tips on making the right choice. Brian Ott is a Retirement Income Certified Professional (RICP), i.e.a financial professional who specializes in retirement income planning. RICPs advise retirees and near-retirees as to the best way to use the assets they have accumulated for retirement to live comfortably wi...
2021-06-0938 minThe BoomX Show: Laws of MoneyHow Virtual Only Law Firms Reduce Costs and Advance the ProfessionSpecial guest Patrick Palace discusses the state of the legal profession, the ways Covid has changed expectations, and the benefits of a virtual-only law firm. Patrick is the owner of the Palace law firm, located in Tacoma, Washington. He is also a frequent guest on podcasts through the Legal Talk Network, active in his local bar as well as the American Bar Association, and a respected contributor on topics related to technology and the law. You can learn more about Patrick by visiting his website www.palacelaw.com.This episode gives listeners a peek into a values-driven...
2021-03-0137 minThe BoomX Show: Laws of MoneyShe Fell In the Garden, Part TwoIn this episode, Darol gives insight, tips, and resources to solve the problem of asset loss due to unplanned care costs. An important resource can be found at the BoomX Academy. Go to www.boomxacademy.com for more information. Financial planning aside, Darol interviews Lisa Doyle, the owner and operator of Cay Care, a care assessment, management, and placement company. A registered nurse, Lisa lays out the value of a separate assessment before making any care decisions. She succinctly summarizes care options, ways to include and empower the aged patient, and a framework for successful decision making.
2021-02-1635 minThe BoomX Show: Laws of MoneyShe Fell in the GardenA decade ago, BoomX Show host Darol Tuttle aired his first radio episode. Unconfident, he took the airwaves by interviewing two of his clients who had found their stubborn, aged mother unconscious in her garden. The weather that day was below freezing and she was near death. At the time, Darol was skilled in elder law but still found himself moved by their story and the lengths to which they were forced to go to manage their mother's care.In the episode, Darol laid out the costs of care as they existed in 2011. Then, he analyzes the...
2021-02-1455 minThe BoomX Show: Laws of MoneyIs Dave Ramsey Right?Endorsed by Dave Ramsey, Mama Bear Legal Forms is a legal document creation application. In this review, Darol Tuttle walks through the creation of a Last Will and Testament, health care power of attorney and financial power of attorney, and rates the website design, legal/technical, accuracy in representation, asset protection and value of Dave's endorsement. Does Mama Bear Legal Forms live up to the hype?
2020-08-2024 min
The BoomX Show: Laws of MoneyWhen to Listen to Dave RamseyHow does a radio show host stack up against a trained wealth professional who chose a legal profession when advising on topics that matter to your family's wealth? It is a valid question. Should you listen to Dave Ramsey? If so, is his expertise limited? When should his advice be followed and when should it be considered entertainment?In this episode, Darol compares the different professional requirements for an attorney as compared to a financial advisor. The education and training aside, the importance of asset protection as compared to the message of the radio show hosts as...
2020-08-2027 min
The BoomX Show: Laws of MoneyWhat a Legal Secret Once Revealed Can Do To Help You Protect Your AssetsA legal secret is a principle, construct or strategy that is obscured intentionally or negligently. These legal secrets can make a difference once revealed and, in some cases, mean the difference between wealth erosion or protection. As part of the asset protection series, asset protection attorney and your host, Darol Tuttle, introduces listeners to the basic purpose and features of a true asset protection plan and his commitment to revealing all legal secrets that obstruct this goal.
2020-03-2723 min
The BoomX Show: Laws of MoneyHow to Protect Your Wealth in a Time of CrisisThis episode marks the first of 30 daily episodes to help listeners build a true asset protection system. Published on the same date the host's home state issued a quarantine, stay at home order, the episode describes the emphasis on publication of reliable information rather than perfectly produced podcast episodes. Learn how medieval lawyers devised the first asset protection trust to save the estates of England during the bubonic plague and how this legal construct still exists today.
2020-03-251h 03
The BoomX Show: Laws of MoneyHow to ethically sell your services with an enforceable contract and build a loyal following in the processThis episode introduces young business leaders to the basic requirements of a contract, focusing on the legal requirement that a contract must have a meeting of the minds between the buyer and seller as to material terms. Price is a material term. Comparing real examples of a sales process when the host solicited advice from two different "business coaches", the episode makes the case that understanding the laws of contracts also bring integrity to your business and will help build a loyal following.
2020-02-2736 min
The BoomX Show: Laws of MoneyThe 2020 Secure Act and Three Wealth Models to Help You Work Around itThis episode is a legal update with a higher view of planning to include three necessary philosophies of wealth planning to help you make the appropriate decisions. The episode describes the 2020 Secure Act but in the context of estate planning law, dating back to British medieval common law, three other important legal changes in the preceding five years and the new reality of planning with retirement accounts. This episode introduces you to idea of "workarounds". Yes, that's right! We can mitigate the negative impacts of the SECURE Act. On December 20, 2019, President Trump signed the Setting Every...
2020-02-0758 min
The BoomX Show: Laws of MoneyWhat a rooster, a beach and earthquakes taught me about resilience, what is important and investingWhat would you do if, suddenly, you could not buy food. And you were afraid to sleep inside your home. Your neighbors decided to leave. A man who lived a block away committed suicide? How would you plan for the future if you just lost your job? A swarm is what geologists call the grouping of earthquakes that have hit Guanica, Puerto Rico. Swarm is as good a name as any to describe over a thousand earthquakes in such a small area, many above 5.0 and at least two above 6.0. While there has not been a "big one", a single...
2020-01-291h 03
The BoomX Show: Laws of MoneyHow to Make Decisions About Wealth Quickly and AccuratelyWhat does decision making have to do with the Laws of Money or Lessons of Life for that matter? Everything. Effective decision making is a skill. Some people have honed this skill, most have not. As people age, they become more ensconced in their own particular cognitive biases. What is a cognitive bias, you ask? A cognitive bias is a systemic pattern of deviation from rational thinking. Mr. Wikipedia lists over one-hundred biases. Google that. It is fascinating that there are so many identifiable ways the human brain will fight you in the struggle to make the correct...
2020-01-2332 min
The BoomX Show: Laws of MoneyWhy Money Is Not ImportantLaw and money share a common characteristic. Neither can be found in the material world. A dollar bill can be touched. However, a one dollar is exactly the same as a one hundred dollar bill except for the number 1 and a picture of Washington as compared to the number 100 and a picture of Franklin on it. The hundred dollar bill represents a much higher degree of some unspoken value but is physically the same as the item that represents far less. What exactly is money? Listen to the answer to this question as posed to an elite wealth attorney, as inter...
2020-01-1541 min
The BoomX Show: Laws of MoneyBe a Hero To Your FamilyIn this episode, host Darol Tuttle shares his observations and feelings related to the end-of-life, our attitudes about death and how negative, counter-productive emotions block us from making this critical transition easier and less stressful for your family. The Law has requirements and they must be met. This, a constant theme of the show is reinforced as Darol summarizes different real-life cases in which people have passed away with different levels of preparedness for this final contingency. The Second Law of Money was described by Jack Tar: The financial ship always needs a captain.
2020-01-0234 min
The BoomX Show: Laws of MoneyMy Dad Died TodaySix hours after I learned that my father had passed away, I recorded this episode. I recorded it in one, uninterrupted session and it is unedited. I then published it to my website. The next morning, I felt ill at ease. My feelings were not grief about my father's death. As you will soon realize, my father and I were not close. Rather, I worried that I was about to be hit by a bolt of lightning from Zeus for an unlawful or inappropriately disrespectful speech about the dead. As the day wore on and I had not been...
2020-01-0244 min
The BoomX Show: Laws of MoneyWhy I Closed My Law Firm To Start This PodcastI decided to close my law firm. I am still a lawyer. I will still help people understand and leverage the law. I do not own and operate a law firm and will not practice law as I once did. The legal services industry is archaic. Expensive. Information is often hoarded when it should not be.I came to the Caribbean to attend a business meeting. I was one of twenty-five entrepreneurs who were lucky enough to participate in a Master Mind with John Lee Dumas and his partner, Kate Erickson. John and Kate operate Entrepreneurs on...
2019-12-2033 min
2013-12-1109 minLiving Care Radio EpisodesLiving Care Radio Promotes Leisure CareA segment of Living Care Radio that aired December 9th at 10:100 am on KKNW, AM 1150.
2013-12-1007 min
Living Care Radio EpisodesEpisode 25 Hosts Lisa Doyle with CayCare and Jennifer Lottis, Community Relations Director at Aljoya Mercer Island, an Era Living retirement community AljoyaIn this episode, Darol discusses the growing complexities of long term care planning in relation to static retirement income and the high and increasing costs of long term care. To help him frame the discussion, Darol co-hosts with Lisa Doyle from CayCare. CayCare is a care management and referral agency that assists clients locate long term care resources.
In the remainder of the show, Darol and Lisa welcome and chat with Jennifer Lottis, Community Relations Director at Aljoya Mercer Island, an Era Living retirement community.
Aljoya Mercer Island offers a warm, vibrant lifestyle, a vast array of amenities, rich...
2013-08-0859 minLiving Care Radio EpisodesEpisode 24 Hosts Bellettini Assisted Living Community and LifeSpace, Home Organization & Transition SupportLiving Care Radio Host, Darol Tuttle, discusses issues related to aging and the law, the legal framework in which a person transitions from home to a care community. Darol begins by discussing the law and its origin in British common law and discusses the case of William Burnett from Old Bailey criminal court to point out that the law has progressed in the last few centuries.
In the next segments, Darol introduces listeners to Pam McFadden, sales director at Bellettini Assisted Living Community. The Bellettini is an urban senior living community in the heart of beautiful Downtown Bellevue, which...
2013-07-2659 min
Living Care Radio EpisodesEpisode 23 - Hosts Allied Health AdvocatesIn the first segment, Darol described the modern trend of adult children providing care for aged parents. The stress is sometimes overwhelming and many family members who provide care need help but do not know how to ask for help. That question, when is a good time to ask for help, became the theme of the show.
To help Darol answer that question, Rebecca Bomann, owner of SASH Realty, hosted two guests from Allied Health Advocates, Robin Shapiro and Beth Droppert. Allied Health Advocates (AHA) is a Washington state-based health advocacy company focused on providing in-person assistance to patients...
2013-07-2357 min
Living Care Radio EpisodesEpisode 22 Hosts Fedelta Care SolutionsLiving Care Radio host, Tacoma WA Kirkland WA elder law attorney Darol Tuttle hosts Fedelta Senior Care Solutions, in particular owner Steve Meyer and Regional Sales Director Tammi Reeser. In the first segment Darol described the topics of a Living Care Workshop, held earlier that day. The focus of the Workshop was asset protection. Darol described the term "asset protection" as the proven strategies and techniques used by planners to pay the high costs of long term care. Many seniors incur high long term care costs in their eighties when their income is static. Most receive social security income...
2013-07-0259 min
Living Care Radio EpisodesEpisode 21 Hosts Family Resource HomecareDarol Tuttle, host of Living Care Radio, begins the episode by discussing the VA program and an award of assistance to a World War II Veteran who had flown B17 missions over Europe. Now in his eighties, the Veteran is wheelchair bound and resides in an assisted living community. Darol describes his pension award and how it will help this war veteran pay for care. He also notes that another client of his, a surviving spouse of a veteran, also received an award of a pension to help her pay for care as well.
Next, Darol discussed the steps...
2013-06-2459 min
Living Care Radio EpisodesEpisode 20 Hosts Advanced Health CareOn this, the twentieth episode of Living Care Radio, host Darol Tuttle interviews Lynessa Tinglum and Julianne Ferguson from Advanced Health Care. Advanced Health Care began in 1984 when Ron Bode was working as a nursing home administrator and felt led to begin a new venture in private duty home care. He observed nursing home residents desperately wanting to return to their own homes, but without the support they needed to live independently and safely. While continuing to run the nursing home and raise a family of four children, Ron and his wife Pat opened Advanced Health Care and trusted...
2013-06-2259 min
Living Care Radio EpisodesEpisode 20 Advanced Health CareOn this, the twentieth episode of Living Care Radio, host Darol Tuttle interviews Lynessa Tinglum and Julianne Ferguson from Advanced Health Care. Advanced Health Care began in 1984 when Ron Bode was working as a nursing home administrator and felt led to begin a new venture in private duty home care. He observed nursing home residents desperately wanting to return to their own homes, but without the support they needed to live independently and safely.
While continuing to run the nursing home and raise a family of four children, Ron and his wife Pat opened Advanced Health Care and trusted...
2013-06-2049 min
Living Care Radio EpisodesLiving Care Radio for CommunitiesThis is a 41 minute episode of Living Care Radio dedicated just to communities - Independent Living, Assisted Living, Memory Care and even Skilled Nursing. In this episode, Darol Tuttle overviews the Living Care Radio show and marketing opportunities with the show and the law firm. He then discusses big changes in the VA Aid and Attendance program and offers important tips to be prepared when the new law is passed.
The rest of the episode highlights promotions that Living Care Radio is run and interviews with guests to include a Continuing Care Retirement Community and an Assisted Living Community.
...
2013-06-1341 min
Living Care Radio EpisodesEpisode 19 Featuring Franke Tobey Jones, a Continuing Care Retirement CommunityIn this exciting episode of Living Care Radio, host Darol Tuttle, lays out resources to help listeners find information, resources and advice regarding VA benefits, Medicaid and COPEs and even housing options for Seniors who need help. One resource is the website for the show, www.livingcareradio.com, in which all of Darol's articles are posted as well as prior episodes. Another great resource is Darol's personal website, found at www.daroltuttle.com. Darol Tuttle is a Tacoma, WA elder law attorney with offices in Kirkland, wa.
In the first segment, Darol laid out that the cost of long...
2013-06-1059 min
Living Care Radio EpisodesEpisode 18 Guest Lisa Doyle from Cay Care: Living Care Plans, Veterans Health CareIn this, the 18th episode of Living Care Radio, Darol Tuttle and guest Lisa Doyle discuss Living Care Plans in the context of cancer or other serious diseases, Veteran's health benefits and asset protection.
Darol was recently interviewed by a report from NPR (National Public Radio) on the topic of Cancer and the frequency of bankruptcy petitions by those who have been diagnosed with Cancer. Darol was asked how he helps his clients manage medical expenses when facing cancer. Living Care Plans assist clients because the plans verifies and forecasts income, assets and expenses for five years.
Living Care...
2013-06-0359 min
Living Care Radio EpisodesSeason 1 Episode 17 Long Term Care Insurance with Bankers LifeIn this episode of Living Care Radio, Darol Tuttle interviews Michael Sheek and Christine Jackson with Banker's Life and Casualty about the intricacies of long term care insurance. Darol asks tough questions about financing care through insurance and offers some alternatives.
2013-05-2259 min
Living Care Radio EpisodesSeason 1 Episode 16 Peter Gallagher and Rebecca Bomann with SASHThis week on Living Care Radio, Estate Planning and Elder Law Attorney, Darol Tuttle hosts Kirk Larson from the Social Security Administration as well as Peter Gallagher and Rebecca Bomann from a local real estate services firm called SASH.
Segment 1
Ever wonder if Social Security will run out of money? Is that a myth or is a real possibility. Darol interviews Kirk Larson, Public Affairs specialist with Social Security Administration and puts the question before him. Listen as Kirk explains the financial well-being of this important government program. The answer may not be what you had thought. Darol and...
2013-05-2158 min
Living Care Radio EpisodesSeason 1 Episode Kirk Larson with the Social Security Administration Public Affairs SpecialistThis week’s episode of Living Care Radio, host Darol Tuttle welcomes Kirk Larson from the Social Security Administration Office. Listen in for exceptional tips on retirement planning, VA planning, retirement benefits and information about the Social Security website!
Segment 1 – Retirement Planning and VA Planning
• Retirement account is not only owned by the client, but the government
• Required minimum distribution start date is age 70 ½
• What is a Conduit Trust and what is the importance of one?
Segment 2 – VA Benefits and the Start of Social Security
• Apply to VBA side first – service connected compensation or non-service pension?
• Who received the first monthly SS ch...
2013-05-1059 min
Living Care Radio EpisodesSeason 1 Episode 14 Julie Moorer with Director of Recruitment at the UW & VA Alzheimer’s Disease Research CenterOn this week’s episode of Living Care Radio, special guest Julie Moorer joins Darol Tuttle as they discuss retirement accounts, pension and compensation tips for veterans and preventatives for Alzheimer’s. Julie Moorer is a Registered Nurse and the Director of Recruitment at the University Of Washington & Veterans Administration Alzheimer’s Disease Research Center.
Segment 1 - Retirement Accounts
• One must know the law regarding IRA’s and the age required for taking money out (70 ½)
• Important Information regarding Trusts
o Valid under state law
o Irrevocable
o Beneficiaries must be specifically identified in the document
o Beneficiaries must be individuals
...
2013-05-0858 min
Living Care Radio EpisodesSeason 1 Episode 13 Janet Pack with Senior Care AllianceIn this episode, host Darol Tuttle and guest Janet Pack give you an insight as to what the top 10 biggest IRA mistakes people make are.
• Mistake #1 – Not taking their RMD (Required Minimum Distribution)
• Mistake #2 – Not properly designating beneficiaries (governs where monies are to be distributed)
• Listen to hear more of the 10 biggest IRA mistakes!!
As an expert in Senior Planning, Janet Pack has completed IRA University and has a background in Estate Planning and Long Term Care planning. She has helped thousands protect their assets and preserve their wealth by using various, not commonly known practices to cover extended care costs...
2013-04-3055 min
Living Care Radio EpisodesSeason 1 Episode 12 Mary Lynn Pannen with Sound OptionsThis episode of Living Care Radio features Mary Lynn Pannen founder of Sound Options.
Founded in 1989 by Mary Lynn Pannen, Sound Options is dedicated to improving the lives we touch through the compassionate delivery of quality family care. Integrating a unique approach and an uncompromising attention to detail, the Sound Options team is comprised of experts in their field who bring unparalleled knowledge, training, and compassion to the realm of care. Our many awards reflect our true dedication and commitment to the families we serve. Our professional affiliations are part of our deep commitment to the integrity of sound...
2013-04-2559 min
Living Care Radio EpisodesSeason 1 Episode 11 Thomas C. Cock founder of Vestory InvestmentThis special episode of Living Care Radio features Thomas C. Cock, founder of Vestory Investment Advisory.
Tom is co-host of Investoradio, a weekly radio show and podcast. He has been in broadcasting for over 35 years, including a 5 year stint as the TV host of PBS’ Serious Money which was nominated for a Regional Emmy.
Prior to founding Vestory in 2009, Tom was a partner at one of the largest investment advisory firms in the country. Tom played a key role in the growth of that firm for over a decade, and was instrumental in making it one of the 100 fastest gr...
2013-04-1859 min
Living Care Radio EpisodesSeason 1, Episode 10 Guests Jeff & Kelly Chambers from Visiting AngelsNEWS: Washington State, under the Affordable Care Act, has agreed to expand requirements for those in need of Medicaid. Click on the link for more information http://www.king5.com/news/local/What-the-Supreme-Court-decision-means-for-you-160723975.html
Listeners are introduced to Anne. Anne’s father suffers from Parkinson’s disease and served in World Word 2 and therefore, is eligible for VA Benefits. Anne describes her experience in working with the VA office, the complicated paperwork that goes along with applying for benefits and the untimely manner in which cases are reviewed.
Next, Living Care Radio host, Darol Tuttle, welcomes guests Jeff and Kell...
2013-04-0959 min
Living Care Radio EpisodesSeason 1, Episode 9, Medicare!?! Medicaid!?! What’s the Difference?!!Medicare and Medicaid can be very confusing. After last week’s exciting show covering The Affordable Care Act, this week’s Living Care Radio Show host, Darol Tuttle, dives into the difference between Medicare and Medicaid and how it relates to The Affordable Care Act.
Highlights of this week’s Living Care Radio Show:
• Medicare – This program is specifically made for seniors. This program is divided into 4 parts;
• Lisa Doyle from CayCare calls in and discusses Jimmo Vs. Sebelius and the importance of rehab centers;
• Medicaid – This program helps those with limited assets, limited income, and is available for any age.
**U...
2013-04-0459 min
Living Care Radio EpisodesSeason 1, Episode 8 The Affordable Care ActIn this episode, Living Care Radio Host, Darol Tuttle focuses on the largest threat to one’s retirement, the Affordable Care Act, long term care and short term care.
Living Care Radio received a call from a listener who touched on a concern held by some regarding “ObamaCare”. As reiterated by Living Care Radio Host, Darol Tuttle, the listener’s concern focused on the individual mandate; believing that one’s choice to enroll in health insurance, or to decline, is being taken away due to the Affordable Care Act.
In the final segment, Darol Tuttle touches on businesses and the possib...
2013-04-0359 min
Living Care Radio EpisodesEpisode 7Elder Law attorney, Darol Tuttle, discusses End of Life Planning, VA Benefits and History of the TrustLiving Care Radio hosts Pamela Maddess from New Tacoma Cemetery. Pamela describes end of life planning and ways to finance burial. Thereafter, Darol Tuttle, elder law attorney, discusses dementia, estate planning and VA benefits.
2013-03-1859 min
Living Care Radio EpisodesEpisode 6 Levels of Estate Planning and POLST/Advanced DirectivesIn this episode of Living Care Radio, host and elder law attorney, Darol Tuttle, discusses the five levels of estate planning. Analogizing in a fun way to a video game, Darol discusses the entry level of estate planning which is simply putting into place powers of attorney and so called "Living Will." More about Living Wills in a moment.
Next, Darol introduces the idea of "Level 2" which is simply adding to Level 1 with a Last Will and Testament. It is imperative, if married, to include a trust created at death for the benefit of the surviving spouse that holds...
2013-03-1359 min
Living Care Radio EpisodesEpisode 5: Taxes. Dementia and Kings Manor Assisted Living CommunityIn this week's episode, Darol Tuttle, discusses the current rules governing federal and state estate tax and gives listeners an important tax tip regarding capital gains tax savings. A workshop attendee asks Darol about the "fiscal cliff".
The tax tip Darol discusses is related to the "Step Up In Basis" rule contained in the estate tax code. When the estate tax was repealed for one year in 2010, it created an interesting dilemma for high net worth individuals who passed in that year. One such person was George Steinbrenner who owned the New York Yankees. This is discussed in the...
2013-02-2759 min
Living Care Radio EpisodesLiving Care Radio, Season 1 Episode 4 airing Saturday, February 23Living Care Radio host and elder law attorney, Darol Tuttle, discusses VA benefits in the context of a real story of a World War II veteran who is now in need of assistance. Darol discusses touches on the various benefit programs available through the Department of Veteran's Affairs in particular non-service connected pension.
Living Care Radio also hosts special guest Jason Kitchel. Sales Director at Narrows Glen. Listen as Darol interviews a veteran who served in the 101st Airborne Division in World War II and currently resides at Narrows Glen. Living Care Radio asks questions of Bill, the Veteran...
2013-02-2158 min
Living Care Radio EpisodesLiving Care Radio Episode 3 airing Feb 16, 2013Host, Darol Tuttle, airs LIVE with special guest Janet Pack. As an expert in Senior Planning, Janet Pack with Senior Care Alliance has completed IRA University and has a background in Estate Planning and Long Term Care planning. You will find very few individuals in the state of Washington with similar credentials. She has helped thousands protect their assets and preserve their wealth. Janet knows how to help you find financial peace of mind. She has helped thousands protect their assets and preserve their wealth by using various, not commonly known practices to cover extended care costs. Along with...
2013-02-1959 min
Living Care Radio EpisodesLiving Care Radio Season 1, Episode 2 : Long Term Care OptionsIn this episode, we introduced Janet Pack and Lisa Doyle. Janet is a financial advisor and discussed her services and the Workshop she and Darol will host together on Saturday, February 23, 2013 in Renton at the Holiday Inn at 10:00 am. for more information about Janet and her company, visit http://seniorcarealliance.info/ Janet discusses a new program she has developed to protect assts from the high costs of long term care.
Lisa Doyle is owner of CayCare. Visit www.caycare.com for more information. Lisa discussed her company but more importantly the choices available to families who are in need...
2013-02-101h 00
Living Care Radio EpisodesLiving Care Radio Season 1 Episode 1Saturday, February 2013
In this episode, Living Care Radio Host, Darol Tuttle discusses the demographic event called the "Silver Tsunamai" in which statitics show that the American population is aging. As the number of Americans over the age of 65 increase, the demand for long term care services will increase. Darol arguest that long term care services are having a hard time meeting this increased demand and prices are increasing. For this reason, many families are left unprepared when a sudden need for care arises.
Next, Living Care Radio highlights the struggles of one such family. Listeners are introduced to two...
2013-02-0559 min