meta_pixel
Tapesearch Logo
Log in
Earn Your Leisure

HOW WEALTHY PEOPLE USE LIFE INSURANCE TO AVOID PAYING TAXES

Earn Your Leisure

EYL Network

Education, Entrepreneurship, News, Business News, Investing, Careers, Business

4.87.8K Ratings

🗓️ 9 January 2023

⏱️ 12 minutes

🧾️ Download transcript

Summary

In this clip we talked about irrevocable life insurance trust and how the wealthy use them to avoid taxes. #taxes #lifeinsurance #estateplanning


Full Episode: https://youtu.be/kRJfu32Ze0o (https://youtu.be/kRJfu32Ze0o)


Monthly Investment Deal: https://www.earnyourleisure.com/pages/stock-market-deals



Advertising Inquiries: https://redcircle.com/brands

Privacy & Opt-Out: https://redcircle.com/privacy

Transcript

Click on a timestamp to play from that location

0:00.0

I wanted to say something because I posted something on Instagram and it got a lot of traction

0:05.0

in it.

0:06.0

It was actually an old post but I realized that a lot of people don't catch the information

0:10.9

when it comes out or they might be new or they just forgot.

0:13.4

So I posted about my eyelid, air of vocalble life insurance trust and this is something

0:19.1

that I think is important for people to understand just the trust period.

0:23.4

We should probably at some point bring a lawyer on to talk about trust and stay planning

0:27.6

because it's extremely important, especially when you're talking about wealth.

0:30.2

But the whole point of a trust is to take things out of your name.

0:32.8

And this is why when they always say, you hear me say that cliche like, what is it,

0:37.1

own nothing, control everything?

0:38.6

Yes.

0:39.6

And that's kind of where that comes from with a lot of wealthy people.

0:44.8

They don't really, and they're not really in the hurry to have their name on every day.

0:50.0

And this goes back to even that versus battle with GZ and Gucci.

0:56.4

And when GZ said he owns half Atlanta and then of course people on social media, they

1:02.4

got to Google in and it was like, well, it actually comes out that he only owns one house

1:06.6

and making Georgia.

1:07.6

Then there's another way of social media people that was like, well, you know, you don't

1:12.0

just because your name is not attached to it doesn't mean that you don't surprise.

1:16.2

That's actually more beneficial because just how you found out that he owns that house.

1:20.8

Like don't you think that it would probably be beneficial that you wouldn't be able to

...

Please login to see the full transcript.

Disclaimer: The podcast and artwork embedded on this page are from EYL Network, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of EYL Network and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.

Copyright © Tapesearch 2025.