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 · last 12 monthsRecordings per month over the last 12 months — 11 in all, peaking in Jul 2026 with 5.
Appearances
Now, succession planning
would dictate if you've got multi-generational policies that you have common aligned ownership such that your family committee, your children, whoever takes over the operation has a roadmap, has family structure and consistency and ownership and beneficiaries, correct?
And one of the things that will happen is when there's multiple policies and folks begin to increase the size of their bank and operate as a banker, begin to lend out to various family endeavors, businesses.
whatever the case may be, that it's important to have an entity that owns those policies, makes the loans, and is actually secured as a lender within the collateralized loan structures.
If you're loaning money out on real estate, for example, your lending entity, your private bank, obviously needs to have a deed of trust or mortgage to secure payment, even with family members.
Same thing with automobile financing or business financing.
You need to
structure those loans in a appropriate way, just as any other lender would do, which includes liens.
The considerations for structure need to be carefully weighed at the beginning.
And if your wealth position is not such that you're going to pay a lot of estate planning taxes,
and you're in a favorable state, no need for complex structure.
But when you begin to have the multi generational policies that flow to children and grandchildren, and you have a committee that will govern those death benefits coming in, there need to be rules and there need to be a structure where that it's, it's all flows for people to see in your family.
It just depends.
Yeah.
I think that the first litmus test is what state law applies and we can run through those details and get a pretty clear roadmap of how that works.
Yeah, but it is disappointing, like you mentioned, when
Folks come and they've spent a lot of time and money and have some complex legal structure that was completely unnecessary for their wealth strata and for their purposes.
It was a total waste of time and energy, and it happens.
It's a great, it's a great tool that is far superior to complex legal structures simply because state law prevails.
And so if you happen to be in a great state like Texas or Florida or
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