Podcast
The Chris Berry Show
Hosted by Christopher J. Berry · EN
Christopher Berry discusses the best Legal, Financial and Tax Planning advice for the second half of life. Join Christopher for new episodes every week.
10episodes
Episodes
Newest firstAll episodes
078 Retirement Income Planning Using the "Bucket Plan" Concept
Apr 27, 202100:52:53Tap to summarizeThere are two key ingredients that are viewed as really the foundation of moving into retirement and beyond. These two, pieces to the foundation are creating the legal entity, the legal structure. That's estate plan, the will, the trust and then the second piece of it, and this is really what gives people a lot of peace of mind as it relates to moving into retirement is creating that income plan. Join Chris Berry in this episode where he shares the retirement income planning using the "Bucket Plan" concept. In this episode, you'll learn... - Chris' positive focus for the week - My book on building that retirement and legacy plan - Creating a clear retirement legacy blueprint - Income planning as a foundation - Accumulating money and saving to retirement - The Bucket Plan - Sequence of return and risk - Structuring the income plan - Distribution and preservation phase - Organizing your assets - Widow's Penalty - Structuring retirement in terms of time horizon - Money over the next 10 years - Interest Rate Risk - 60/40 Investment Links and Resources: - castlewealthlegal.com - RetirementPlanWebinar.com - AlzElderCare.com - castlewealthgroup.com - TheChrisBerryShow.com - Michiganestateplanning.com Follow us on Social Media: - Twitter - Facebook - LinkedIn - YouTube
Transcribe →077 The Elder Care Journey and a Free Book Offer
Mar 30, 202100:52:53Tap to summarizeSo this week on the show I will highlight the book, The Caregivers Legal Guide to Planning for a Loved One With Chronic Illness - this book will give you some guide, kind of create a roadmap for the long-term care journey, the elder care continuum of needing maybe home care or assisted living or assisted living with memory care or nursing home care. Our book that I wrote is specifically to help you navigate that long-term care journey, to give you insider strategies from an advisor and certified elder law attorney that has helped countless families. I'll also share points and deep dive on long term care and many more! In this episode, you'll learn... - Chris' positive focus for the week - Book: The Caregiver's Legal Guide Planning for a Loved One With Chronic Illness - Preview of my second book - How we can help to protect your assets - Insider's guide on how to plan for long-term care0 - Gift taxes and income tax - Long Term Care - A Case Study - Financial Power of Attorney - Key Legal Documents - Estate Planning - Long Term Care Insurance - Medicaid - Planning Strategy Links and Resources: - castlewealthlegal.com - RetirementPlanWebinar.com - AlzElderCare.com - castlewealthgroup.com - TheChrisBerryShow.com - Michiganestateplanning.com Follow us on Social Media: - Twitter - Facebook - LinkedIn0 - YouTube
Transcribe →076 Mitigating Retirement Risks
Mar 11, 202100:52:55Tap to summarizeThis week on the Chris Berry Show, what we're going to do in our second and third segments is we're going to get into the changing retirement risks. So the risks that maybe your parents or the previous generation had, the risks are a little bit different these days. And we're going to get into what those risks are and what you can do to try to mitigate some of those risks. In this episode, you'll learn... - Chris' positive focus for the week - Longevity Risk - The sequence of return of risk - Long Term Care Risk - Market Risk - Tax Risk - Stock Market Trending News - Understanding how retirement is evolving - We can help you establish Confidence, Clarity, and Comfort in your retirement - Tax Planning strategies - Roth IRAs - Income planning and investment advice - Protection for your investments - Low interest Rates - Potential Tax Liabilities Links and Resources: - castlewealthlegal.com - RetirementPlanWebinar.com - AlzElderCare.com - castlewealthgroup.com - TheChrisBerryShow.com - Michiganestateplanning.com Follow us on Social Media: - Twitter - Facebook - LinkedIn - YouTube
Transcribe →075 Stress Testing Your Estate Plan
Feb 17, 202100:52:58Tap to summarizeIt starts with the estate planning stress test that looks at the amount of stress your family would have to deal with if something were to happen to you right now. Things like going through probates, creating your retirement and legacy blueprint, important steps your family needs to take when something happens to you and addressing potential outside influences and challenges the transfer of an estate or lay claim to funds will be covered today. These are only some of the things you need to consider. In this episode we will run through the 20 questions about stress testing your estate plan and many more! Our focus is always to figure out what your goals are, figure out the best strategies to help you achieve those goals, and then pick the right tools. In this episode, you'll learn... - Chris' positive focus for the week - Estate Planning - Having an income plan for retirement - Creating a retirement and legacy blueprint - Different legacy blueprint focus - The three big risks as it relates to retirement and legacy planning - What important steps your family needs to take when something happens to you - Why it is important to ensure access to your estate planning documents - Do you have standing instructions or provisions for medical tests to determine your level of capacity so that someone could handle your immediate affairs? - Basic guardianship documents - Do you confidently know if your assets are subject to government seizure to pay for your long-term care? - Personal care plan - Advantage of a family meeting where all of the persons involved in your estate understand what needs to happen. - Are you 100% confident that your executors or beneficiaries will not subject your estate to probate court to decide who gets your assets? - The benefits of getting your assets are properly titled - Our 10 point estate planning audit checklist - Possible disputes over hard to divide assets. - Why not having a proper beneficiary designation is the worst mistake a family can make - How to address potential outside influences and challenges the transfer of an estate or lay claim to funds - Have you set up controls for distributions for your funds? - Making sure there is continuity in taking care of your parents when something happens to you. - Have you established a well-documented succession plan so your families - Legacy locker where we can store all digital media Links and Resources: - castlewealthlegal.com - RetirementPlanWebinar.com - AlzElderCare.com - castlewealthgroup.com - TheChrisBerryShow.com - Michiganestateplanning.com Follow us on Social Media: - Twitter - Facebook - LinkedIn - YouTube
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074 Why 2021 Offers A Window Of Opportunity For Us
Jan 4, 202100:52:51Tap to summarizeFor a lot of people, one of the things that they have on their checklist for 2021 is to finally get that estate plan either done or to update that estate plan. That's what we'll spend time talking about in this episode. We dive deep into the things you need to think about when it comes to putting together an estate plan. What are the tools that we need as we put together an estate plan? In this episode, you'll learn... - Chris' positive focus for the week - New tax season fundamentals - The real fact behind the Secure Act - Tax conversation of how much money to pull out of the IRAs and 401ks - Insights from the book biography on John D. Rockefeller - Market volatility - New presidential leadership and it's possible effect on taxes - How the financial crisis can stay for long-term - How to adjust the risk by reviewing your portfolio - Prioritizing Estate Planning this year - Different tools to get your estate plan done - Elder law attorney versus just an estate planning attorney - Estate Plan as a rule book - What is Guardianship - The importance of medical and financial power of attorney - Revocable trusts that avoid probate and control the distribution upon death - Avoiding probate - Beneficiary designations - Estate planning and audit - Utilize trusts to protect against estate taxes - Medicare really only pays short-term rehab VA benefits and then Medicaid - Long term care - Castle Trust as a strategy or potential tool where we move assets into the Castle Trust - Asset protection for beneficiaries Links and Resources: - contact@castlewealthgroup.com - www.wisdomwebinar.com - castlewealthlegal.com - RetirementPlanWebinar.com - AlzElderCare.com - castlewealthgroup.com - TheChrisBerryShow.com - Michiganestateplanning.com Follow us on Social Media: - Twitter - Facebook - LinkedIn - YouTube
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073 Protecting Yourself from the Three Big Risks In Retirement
Dec 20, 202000:52:50Tap to summarizePlanning your retirement can be done easily but we may overlook the risks behind it. When creating your own retirement and legacy blueprint, it is important to take into account strategies to protect you from risks. In today's episode, we dive deep into the three biggest risks in retirement with the options to protect yourself from these risks. In this episode, you'll learn... - Chris' positive focus for the week - Introduction to the risks in retirement - Tax Risk - What happens to tax brackets when the Tax Cuts and Jobs Act ends - How the country's debt affect tax - Stretching IRA tax through the SECURE Act - How to minimize taxes for your retirement - Dealing with Market Risk - Diversification of investments - How to measure for risk/volatility - Building a strategy for a soon bucket and later bucket of money - Long-term care risk - What is Private duty home care? - The difference between independent living and assisted living - Long-term care insurance - How does the Medicaid crisis planning strategy work? - Income planning as the foundation in retirement Links and Resources: - contact@castlewealthgroup.com - www.wisdomwebinar.com - castlewealthlegal.com - RetirementPlanWebinar.com - AlzElderCare.com - castlewealthgroup.com - TheChrisBerryShow.com - Michiganestateplanning.com Follow us on Social Media: - Twitter - Facebook - LinkedIn
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072 Year-End Review and Risk Planning
Dec 7, 202000:52:49Tap to summarizeThe year-end is fast approaching. We did know it will be a crazy year because of the elections but we did not anticipate the year will go this way with the pandemic. In today's episode, we will discuss the three big risks that we need to manage for retirement. It is important to have a plan after what has happened this year. If you haven't had your plan assessed or reviewed, now is certainly the time to do that. In this episode, you'll learn... - Chris' positive focus for the week - Year-end recap - Secure act - SECURE Act can only stretch that IRA up to 10 years - The misconception about the tax-deferred account - Three Big Risks of pre-retirement - Required minimum distributions from your pre-tax accounts - The real reason why they pass the SECURE Act - Why the gov't wants you to defer your tax - How tax can be the biggest risk - The window of opportunity for tax management - Importance of Qualified tax Analysis - How $22 Trillion debt affects the tax status in the future - Mitigation of long term care cost - Statistics of nursing home care - Market volatility as risk and pre-retirement - Investment audit - Waiving Penalty under 60 - Rich Man's Roth - Checking where you fall in terms of the tax bracket - Moving to the tax-free bucket Links and Resources: - contact@castlewealthgroup.com - www.wisdomwebinar.com - castlewealthlegal.com - RetirementPlanWebinar.com - AlzElderCare.com - castlewealthgroup.com - TheChrisBerryShow.com - Michiganestateplanning.com Follow us on Social Media: - Twitter - Facebook - LinkedIn
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071 The Alphabet Soup Of Medicare
Nov 30, 202000:52:49Tap to summarizeMedicare can be confusing, there are a lot of details and information to understand. As part of the 5 key areas that make up the retirement and legacy blueprint, it is important that you are guided correctly in making sure that this is covered. Information about Medicare is all over the net and is hard to know which one is right for you. In this episode, I will discuss the details of Medicare to help you better understand. You can use the tools that I will share to ensure that you get a sound plan and decision making. In this episode, you'll learn... - Chris' positive focus for the week - How medicare can have an effect in your retirement? - Where does Medicare fit in the overall retirement plan - Income tax planning - How to structure income and retirement? - Investment planning that you are comfortable with - Death of the 60/40 portfolio idea - Risks to take into account in tax planning - How to manage taxes this year and on your retirement? - Castle Trust that builds your protection - Filling the gaps that Medicare part A and B cover - What is the Medicare advantage route? - Social Security as a source of income - Medicare supplement that can close the gap - 5 Key Areas that make up the retirement and legacy blueprint Links and Resources: - contact@castlewealthgroup.com - www.wisdomwebinar.com - castlewealthlegal.com - RetirementPlanWebinar.com - AlzElderCare.com - castlewealthgroup.com - TheChrisBerryShow.com - Michiganestateplanning.com Follow us on Social Media: - Twitter - Facebook - LinkedIn
Transcribe →070 The New Paradigm of Retirement
Sep 21, 202000:52:49Tap to summarizeThere is an old paradigm of retirement where you defer tax payment as long as possible until you find out that you pay more in taxes with this approach. This may be resonating with you right now if you are in the higher tax bracket. A proper tax planning report can help to show you the macro view of minimizing taxes in your lifetime. Retirement is different for everyone and the strategy to distribute these accumulated assets is specific. Let's look at different topics as we look at this and possibly consider it with a new paradigm shift. I will share with you how to anticipate the future of taxes, what tools you can use and how to plan your asset distribution appropriately towards your retirement. In this episode, you'll learn... - Chris' positive focus for the week - Difference between old paradigm and new paradigm in retirement - Tax Risk and how Taxes are going up in the future - Retirement planning - Tax Cut and Jobs Act - Preserving and distributing assets - What is the Sequence of Return Risk - Distribution of accumulated wealth - The basics of income gap - 60/40 portfolio mix may not be the best option now - Tax buckets and which account you can draw as you are moving into retirement - Why you need to compute your Fortified Income Score to close the income gap - Where taxes are going in the future and how you can manage taxes Links and Resources: - contact@castlewealthgroup.com - castlewealthlegal.com - RetirementPlanWebinar.com - AlzElderCare.com - castlewealthgroup.com - TheChrisBerryShow.com - Michiganestateplanning.com Follow us on Social Media: - Twitter - Facebook - LinkedIn
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069 Asset Protection and Family Law with John Ceci
Aug 23, 202000:52:49Tap to summarizeIf you are going through a process with any of the 4D's - Divorce, Disability, and Death, assets come into play. There is really no guarantee on any type of asset protection. When it ends up in court, you never know what is going to happen. Understand that there is no assurance, but you can build in layers of protection. Today, with our guest Atty. John Ceci, we are going to talk about divorce, asset protection that you can build in layers of protection ahead of time and use legal strategies that you can shield yourself with. In this episode, you'll learn... - Chris' positive focus for the week - Things that you can do proactively with asset protection - Types of Trusts to protect your beneficiaries - How Castle Trust can protect your assets from creditors and the costs of long-term care - Hot assets and real estate and LLC - Divorce statistics - John's guide to simple divorce - Basic ways to get your divorce completed - Completing a Verified Financial Form to reveal everything - Effects of commingling assets - Protecting inheritances - Beneficiary designations - Keeping the money on the bloodline - Legacy inheritance language Connect with our Guest, Atty. John Ceci: - http://www.attorneyceci.com/ Links and Resources: - castlewealthlegal.com - RetirementPlanWebinar.com - AlzElderCare.com - castlewealthgroup.com - TheChrisBerryShow.com - Michiganestateplanning.com Follow us on Social Media: - Youtube: https://www.youtube.com/channel/UCav9WnTkPgKt0FwcsvlBJtg - Twitter: http://www.twitter.com/ElderCareFirm - Facebook: http://www.facebook.com/chrisberryshow - LinkedIn: http://www.linkedin.com/in/christopherjberry
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