Seth Hicks

speaker

815 appearances 11 recordings 1 series first heard May 2026 last heard 13 Aug

Seth Hicks’s voice in public audio — every appearance, attributed to the second.

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Recordings per month over the last 12 months — 11 in all, peaking in Jul 2026 with 5.

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Private Banking Strategies · The Biggest Wealth Mistake Happens Before You Even Invest | Episode 175 · 30 Jul 2026 podcast

So your real estate, for example, in Texas is 100% protected by homestead laws.

It cannot be taken in the event of a liability or a creditor issue.

And

That allows for some very specific planning, and especially in conjunction with your life insurance policies.

And it's not something that is super cumbersome or tricky.

It's simply the state laws that already apply.

So if you're an individual in a state that has very little or no protection, let's just say California is one of those states.

You've got many other states that have very little or no protection.

Georgia, Hawaii, Illinois, Indiana.

Those are all states that I just mentioned that have very little protection.

So you would want to consider other legal structures for ownership.

One potential way is to own policies through your entities, your businesses and corporate owned policies.

And that has a different mechanism, different structures, different leverage.

You can also hold them in irrevocable life insurance trusts, which are a separate entity and also avoid probate.

But with the current exemption of $24 million for married people,

There's fewer people that run into those exemption issues.

But if you're a high net wealth person, it's proper to consider the various legal ownership so that you mitigate your tax burdens.

Another thing to consider is in those successor policies, successor alignment, how they're held, and that will be tremendously important on what state protections you have or don't have.

If, for example, Vance, you were living in a protected state and there's really no reason to use an irrevocable life insurance trust unless you have estate tax issues, would that be accurate?

Because the state law is already such that it protects the cash value and the death benefits and the various beneficial interests.

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