The 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 tax arena, lawyers recommend lifetime gifting to an irrevocable trust to 1) reduce the value of the taxable estate and 2) pay for a future estate tax bill with pennies on the dollar. Lawyers draft the trust. The trust, however, needs an investment that appreciates tax-deferred because irrevocable trusts are taxed at the highest tax bracket. Also, the trust needs a tax-free pay out to the estate to pay for final costs, including tax.
This kind of trust, in a sense, is a replacement for the amount that the estate shrinks due to the tax paid. Wealth replacement can also be used to pay back long-term care costs retroactively for the benefit of the surviving spouse.
This episode will challenge your thinking. Fact-based from the experience of three and a half decades of combined experience, Darol and Sarry make the argument that listeners can build their own family bank that can grow family wealth for generations.
Learn more about Sarry Ibrahim and how he can help you grow more wealth using this link: https://finassetprotection.com
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