BIF Bites

This week, Jerry sits down to talk all about viatical settlements, how to qualify for them, what the transfer for value is and why it matters to you for the CFP exam.

In this episode of BIF Bites, Kaylee makes her debut as the newest BIF Crew member, sharing best practices for CFP® exam study groups just in time for students preparing for the November exam. She introduces a multi-group strategy—combining 1:1 partnerships, small virtual groups, and larger practice sessions—while offering tips on time management, leveraging diverse professional backgrounds, and maximizing learning through active participation. Kaylee also contrasts different study approaches and wraps up with practical advice for forming effective groups, whether virtual or in-person, along with a challenge for listeners to apply these strategies in the week ahead.

In this episode, Jerry lays out a clear, practical game plan for what to do after a life-changing financial windfall. Whether you've hit the jackpot yourself or you're advising a client who has, let's walk through the essential first steps. From staying grounded to assembling the right team and making smart, long-term decisions. Don't let sudden wealth become a sudden problem for you or for one of your clients.

In this episode of the BIF Bites podcast, Jerry dives into the Hobby Lobby Scandal from 2010 and how we can use it for an important lesson for the CFP exam.

It was the 1960s—bellbottoms, Beatles, and flower power ruled the day while America's youth challenged authority at every turn. But while Jimi Hendrix was setting guitars ablaze, California businessman Clifford D. Crummey was quietly funding his family's life insurance trust with annual Christmas gifts—until the IRS claimed those gifts didn't qualify for tax exclusion. Embodying the rebellious spirit of his times, Crummey fought back and won a 1968 court battle that revolutionized wealth transfer forever. Today, "Crummey Powers" help sophisticated families move millions tax-free through dynasty trusts, proving that sometimes the most powerful estate planning tools come from the most unexpected places. Welcome to the summer of Peace, Love, and Crummey Powers—where one man's fight created a legacy that continues to stick it to the IRS, one trust gift at a time.