This is Tereo Media.

Did you know that up to 50% of your lifetime income will be wiped out by taxes?

What if you could stop this madness?

Isn't it about time you play on a level playing field

with the wealthiest 1%? Now you can. Tim Berry, attorney at law, shares here each and every

week current tactics and strategies that anyone can implement to

hack the tax code. Protect your assets and keep what's rightfully yours. It's time for

Tax Hacker Tuesday.

Today's little discussion is it kind of goes along the lines of that old phrase of I wish I had a dollar for every single time I heard whatever phrase and in particular the phrase we're going to be talking about today is all the people who I've talked to over the years you say, you know, I don't really need to do anything to protect assets

because what I'm going to do is I'm just going to shift everything over to my spouse

and they're not going to do anything that generates liability so I'll be protected.

So let me share with you a quick court case that came down. This was a bankruptcy case and

then also there's a

district court a federal district court case that follow up after the

bankruptcy case and both the cases are out of the middle district of

North Carolina and here's the fact pattern We had this one individual who was fired

by an insurance company and so he does the American thing. He sues the insurance company.

So on March 1st, he got a judgment of about a million dollars.

Now, for some reason, this individual did not keep a bank account.

So he gave the entire million dollars over to his wife. So we have here after the funds

of her deposit account, Victoria, his wife, put some money inside the money market

account. They went out and they were very eco-conscious. They bought a

...