BIF Bites

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.

In this week's BIF Bites episode, Jerry and Adam sit down to discuss life after passing the CFP(r) Exam.

In the final instalment of this Question Palooza series, Jerry and Adam tackle the best way to gift a family business as part of an estate plan.

It's day 5 of our 6-day Question Palooza extravaganza. In this episode, Jerry and Adam tackle ESPP and how the different aspects of this retirement benefit are taxed.