Category: Financial Planning
Estate Planning Essentials: Learn About the Latest Changes in Buy-Sell Agreements with David Foster (Ep. 37)

Estate Planning Essentials: Learn About the Latest Changes in Buy-Sell Agreements with David Foster (Ep. 37)

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What happens when business owners overlook the vital details of their buy-sell agreements?

In this episode, Greg DuPont sits down with David Foster, Director of Advanced Planning for Simplicity Group, to unravel the complexities of business succession planning and how recent legal changes can impact entrepreneurs. Discover why many business owners need to rethink their buy-sell agreements and protect their wealth from unforeseen tax implications like those highlighted in the recent Conley case.

Greg and David discuss: 

  • (04:14) The importance of regular review and updates to buy-sell agreements
  • (05:51) How the Conley case could change estate tax valuations and why business owners should care
  • (09:59) Practical steps advisors can take to safeguard their clients’ interests
  • (14:06) Various complex solutions available for high-net-worth individuals and business succession planning
  • (21:07) Common mistakes for small business owners trying to minimize taxes and how to avoid aggressive tax strategies
  • And more

Tune in to gain clarity on essential financial strategies and learn how attorneys can better serve their clientele with advanced planning techniques. Don’t miss out on these critical insights that could save you and your clients from potential financial buy-sell oversights.

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Connect With David Foster:

About Our Guest:

David Foster is the Director of Advanced Planning for Simplicity Group. David focuses on wealth transfer, business succession planning, charitable planning, and executive compensation planning.

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Take Control of Your Time: Don’t Let Time Control You (Ep. 36)

Take Control of Your Time: Don’t Let Time Control You (Ep. 36)

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Are you controlling your time, or is time controlling you?

Time is the ultimate resource, yet many of us feel it slipping through our fingers. Discover how to seize control and make every minute count.

Today on March to a Million, Greg DuPont discusses the significance of effective time management for attorneys, exploring the 12-week year model to boost productivity. He shares his own challenges and strategies for balancing work, life, and professional development. Listen and learn how you can transform your time management approach and propel yourself toward both professional success and personal fulfillment.

Greg discusses: 

  • How breaking down the year into 12-week segments can drive focus and accelerate achievement
  • Effective prioritization by aligning your daily tasks with long-term goals through practical time-blocking strategies
  • Balancing work and personal life to sustain high energy levels and prevent burnout
  • The value of coaches and mentors in guiding your professional journey and providing fresh perspectives on time management
  • And more

Resources: 

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How Attorneys Can Build Stronger Client Relationships and Enhance Their Practice with Ari Galper (Ep. 35)

How Attorneys Can Build Stronger Client Relationships and Enhance Their Practice with Ari Galper (Ep. 35)

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Trust is the cornerstone of successful client relationships, especially in the legal and financial sectors. How can professionals build trust quickly and effectively? What are the common pitfalls in traditional sales approaches?

Join Greg DuPont in this insightful episode of March to a Million with special guest Ari Galper as they uncover the secrets to fostering genuine relationships and establishing trust in the legal and financial services industry.

Greg and Ari discuss: 

  • Why traditional sales techniques fail in modern client interactions
  • The importance of uncovering the true needs of clients beyond surface-level goals
  • The role of trust-based language and how subtle changes can significantly impact your practice
  • Practical advice on shifting your mindset to let clients lead the buying process naturally
  • And more!

Resources: 

Connect With Ari Galper:

Connect with Greg DuPont:

About Our Guest:

Ari Galper is the founder and CEO of Unlock The Game® and is the world’s number #1 authority on trust-based selling. He has been featured in CEO Magazine, Forbes, INC Magazine, SkyNews, and the Australian Financial Review.

As trust becomes the most important currency in the new economy, the act of selling as a dehumanizing process with endless “chasing”, has been completely re-invented and anchored in the timeless values of integrity and trust – through Trust-Based Selling.

In his best-selling book, “Unlock The Sales Game”, Ari describes his revolutionary sales approach based on getting to the truth and why having a mindset of focusing on deep trust, instead of “the sale” – is, ironically, 10 times more profitable.

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Understanding How to Plan for Required Minimum Distributions (RMDs) (Ep. 34)

Understanding How to Plan for Required Minimum Distributions (RMDs) (Ep. 34)

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Required Minimum Distributions (RMDs) are a crucial and essential aspect of retirement planning, yet how they work is an often misunderstood concept.

How do RMDs impact your financial strategy, and what can you do to manage them effectively? Are there ways that attorneys can better serve their clients by understanding the nuances of RMDs?

In this episode, host Greg DuPont defines and explains the concept of RMDs, their significance, and strategies for managing them effectively to benefit your financial plan. He emphasizes the importance of proactive planning in order to take these payments into account and not be surprised later down the line. He also unpacks the important role of attorneys in educating and in guiding their clients through these financial decisions.

Greg discusses: 

  • Definition and Importance: What RMDs are and why they matter in retirement planning
  • Tax Implications: How RMDs affect taxable income and the potential for higher tax brackets in retirement
  • Strategies for Management: Options like Roth conversions and other methods to minimize tax impact
  • Role of Attorneys: How estate planning attorneys can help clients navigate RMDs and improve their financial outcomes
  • And more!

 

Connect with Greg DuPont:

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Transforming Estate Planning with WSN 2.0 (Ep. 33)

Transforming Estate Planning with WSN 2.0 (Ep. 33)

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Estate planning is evolving and Wealth Solutions Network (WSN) 2.0 is at the forefront of this transformation.

With these changes underway, how can estate planning attorneys enhance their practice and better serve their clients? What changes are necessary to achieve greater professional satisfaction and client value?

In this episode, host Greg DuPont discusses the evolution of WSN into its 2.0 version. Starting by defining what this 2.0 version entails, Greg shares insights on the challenges faced by estate planning attorneys and the solutions WSN 2.0 offers to overcome them. This episode also highlights the importance of trust-based client relationships and the need for continuous improvement in the legal profession.

Greg discusses: 

  • The key learnings from the first year of WSN and the challenges faced by members
  • The importance of obtaining an insurance license and the time commitment required
  • The shift in focus to a more streamlined and scripted process for client interactions
  • The introduction of nationwide estate planning webinars as a lead source for WSN members
  • The emphasis on trust-based selling and building strong client relationships
  • The vision for WSN 2.0 to accommodate more members and create a significant impact in the estate planning community
  • And more!

 

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How Integrating Financial Advocacy Transforms Your Practice with Jason Gray (Ep. 32)

How Integrating Financial Advocacy Transforms Your Practice with Jason Gray (Ep. 32)

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Estate planning is evolving, and attorneys are finding new ways to provide comprehensive solutions to their clients.

How can estate planning attorneys offer more value and build long-term relationships with their clients? What are the benefits of integrating financial services into legal practices?

In this episode of March to a Million, Greg DuPont welcomes Jason Gray, an attorney and owner of Pinnacle Estate Planning, to share his journey of becoming a financially-minded professional through the Wealth Solutions Network (WSN). 

You’ll hear about Jason’s background, his transition from traditional estate planning to incorporating WSN’s comprehensive strategies, and how this has allowed him to provide greater value to his clients.

They discuss: 

  • Jason’s journey from being an estate planning attorney and former social worker to joining WSN
  • The process and commitment required to obtain new credentials and the benefits they bring
  • The importance of asking deeper financial questions and how this transforms client relationships
  • The future of estate planning in the AI era and the paramount need for personalized, comprehensive service
  • And more!

 

Connect with Jason Gray:

Connect with Greg DuPont:

 

About Our Guest:

Jason Gray’s practice focuses on estate planning, business law, and real estate law. In addition to his legal practice, Jason has taught classes at the Gonzaga University School of Law and in the Paralegal Program at North Idaho College. He is a former Deputy Attorney General for the State of Idaho and served as a judicial law clerk in the Fourth Judicial District of the State of Idaho. He earned his J.D. degree from the Gonzaga University School of Law and is licensed to practice law in Idaho and Washington.

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How Taking Time Off Can Make All the Difference (Ep. 31)

How Taking Time Off Can Make All the Difference (Ep. 31)

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Taking time off is crucial for personal and professional growth, but many entrepreneurs struggle to unplug.

How can you prepare your business to thrive without you? What benefits can you gain from truly disconnecting?

This week, Greg DuPont chats about the importance of taking time off and how doing so can lead not only to personal rejuvenation but also to professional growth. Greg shares his insights from a two-week vacation, discussing the steps he took to ensure his businesses thrived in his absence, emphasizing the role of strategic planning and team empowerment.

You’ll be surprised by what a good rest can do for yourself, your career, and for those around you. 

Greg discusses: 

  • The benefits of taking time off for hard-charging entrepreneurs
  • Detailed preparation he took to make himself “worthless” for a month
  • Insights from Dan Sullivan’s approach to free days, focus days, and buffer days
  • The surprising impact of Greg’s absence on his law practice’s revenue
  • And more!

 

Resources: 

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How to Integrate Financial Services into Your Law Practice (Ep. 30)

How to Integrate Financial Services into Your Law Practice (Ep. 30)

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Incorporating financial services into a law practice can be a game-changer for attorneys seeking to add value and diversify their offerings.

How can attorneys seamlessly integrate financial services into their practice? What are the steps and benefits involved in this transition?

In this episode of March to a Million, Greg DuPont explores the essential steps for attorneys to incorporate financial services into their law practices. He covers the necessary licenses, regulatory requirements, and the benefits of offering these services to clients. Greg also highlights the support systems available through the Wealth Solutions Network (WSN).

Greg discusses: 

  • Key differences and requirements for Series 6, Series 7, and Series 65 licenses
  • The ease and importance of obtaining a life insurance license
  • The regulatory landscape for financial and insurance services
  • How to find the right partners to access securities and insurance products
  • The critical role of strategic partnerships in providing client-centered solutions
  • And more!

 

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Reflections on Higher Education and Financial Planning (Ep. 29)

Reflections on Higher Education and Financial Planning (Ep. 29)

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The processes around higher education are evolving, and so are the financial strategies needed to navigate its costs and benefits.

What do families need to begin planning for the rising costs of college? What impact will technological advancements in AI and learning and information have on traditional education?

This week, Greg DuPont shares his thoughts on the future of higher education and financial planning, sparked by his daughter’s college graduation. He touches on the challenges families face in saving for college, the potential decline of smaller colleges, and the evolving role of technology in education.

Greg discusses: 

  • The high costs of college education and the challenges of saving for it
  • The potential closure of smaller colleges due to financial pressures
  • The impact of technology, like AI, on the need for traditional higher education
  • The future of student loans and their implications for families
  • The importance of flexible financial planning to adapt to changing educational landscapes 
  • And more!

 

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How to Boost Your Bottom Line and Employee Satisfaction with Josh Kelley (Ep. 28)

How to Boost Your Bottom Line and Employee Satisfaction with Josh Kelley (Ep. 28)

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Are you ready to discover a game-changing benefit program for your employees that boosts morale and cuts costs?

In this episode, Greg DuPont chats with Josh Kelley, Employee Benefits Advisor at Citadel Benefits Group, about an innovative program called the Self-Insured Medical Reimbursement Program (SIMRP). By utilizing tax codes designed for preventative healthcare, this program provides cost savings for employers while offering substantial benefits to employees. 

Employers can look forward to reduced payroll taxes and offering their employees access to supplemental benefits without impacting take-home pay. 

Together they discuss: 

  • How SIMRP can save employers an average of $550 per employee per year in payroll taxes
  • The robust wellness program provided to employees, including telehealth, mental health resources, and much more
  • Understand the conditions under which employees and businesses qualify for the program
  • How this program offers immediate financial relief for businesses while enhancing employee benefits 
  • And more!

 

Connect With Josh Kelley:

Connect with Greg DuPont:

 

About Our Guest:

Josh Kelley gets to help people protect what they care about most: their families and the things they have worked hard to earn and achieve.

Josh started his business life at a very young age with several ventures including Full Service Car Wash, Used Car Lot, Limousine Service, Wrecker Service, and many other small businesses.

Through great success and massive failures, Josh learned very valuable lessons not just in business but in life during his tenure running these businesses.

After 6 years of helping other agency owners grow their agencies, Josh decided it was time for a change, which led him to open his own agency. 

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