Learn How to Become the Expert that Business Owners & High-Net-Worth Individuals Flock to
for Advanced Tax, Insurance & Legacy Planning Strategies
Orchestrate Your Legacy
The Blueprint for Advanced Tax, Insurance & Legacy Planning Strategies
"If you're a Life Insurance or Financial Professional that's Sick & Tired of passing over the 5, 6, an 7 figure cases, this is potentially the most important book you (and even your clients!) will ever read" -Tom Webb, CLU, ChFC
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"This Book Is A Game Changer!"
See What Others Are Saying About The Exclusive Book
"...appendix is a gem!"
"...[Orchestrate Your Legacy] does an excellent job presenting complex subject matter in a topical, anecdotal manner using real-life situations, which have benefited their clients and heirs. The concise and resourceful appendix is a gem and should not be overlooked!"
-Michael LaBaw
"This Book Is A Game Changer!"
This book is a game changer! I’ve started to do more work in the high net worth business owner market and the complexity of the planning can often times be challenging, if not overwhelming. Rick’s book simplifies strategies and gives you a step by step plan of attack with these clients. The knowledge and confidence gained has helped me ensure I’m taking better care of my clients while writing larger cases in the process."
-Iain MacDonald, CLU
"Wow. Just wow!"
"It is one thing to make money. It is another thing to keep the money you make. This book is a comprehensive review of options for keeping your money. I especially like the clarity with which the authors present methods that others seem to complicate when they are describing them..."
-David Bork
Written by world-renowned Advanced Planning Expert Rick Bailey, JD, MAcc, CFP®, Orchestrate Your Legacy is more than a book...
It's a Blueprint.
6 Step-By-Step, Real Life Case Studies in the Business Owner & High-Net-Worth Markets
"The 'Advanced Planning' markets are often overcomplicated. Half the battle is simply knowing how to identify the various planning opportunities."
"High-Net-Worth Individuals and Business Owners are the coveted clients of life insurance and financial professionals...
BUT, landing these types of clients can seem EXTREMELY daunting, especially in a crowded market.
Think about it…
How often do you hear “oh, I’ve already got a life insurance guy”…
Or what about “I like my financial advisor. She does a great job…”
The truth? They haven’t talked to “their person” in months or even years!
And even if they have, they don’t offer the strategies or quality that you do.
Which is EXACTLY why I wrote Orchestrate Your Legacy.
The “best” advisor doesn’t always win the business.
Often it’s simply the first person in the door.
Which is EXCELLENT news for you!
The business owner and high-net-worth markets are filled with opportunities for you, even if you’re brand new to these advanced life insurance and financial strategies.
And Orchestrate Your Legacy will walk you through 6 cases that I personally worked on, showing you the exact strategies that were presented and implemented to help these individuals and business owners achieve financial success, and create a financial Legacy that will live on for generations to come.
But first, a warning: This is NOT a “get rich quick” book, or a way to cut corners without putting in the work.
Yes, you will need to know what you are talking about to get in the door with these clients.
Yes, you will need to have a basic understanding of the concepts discussed in this book.
Yes, you will need to have a basic understanding of the concepts discussed in this book.
But YES, it is possible, and it’s not as hard as many insurance and financial professionals perceive it to be when looking from the outside in.
Each chapter of Orchestrate Your Legacy includes a case study that walks you through the problems faced by our clients, and the solutions we ended up presenting and implementing.
Solutions that resulted in 5, 6, and 7 figure commissions.
But the best part?
Each solution is outlined in detail in the Appendix of the book.
You will not only be provided with the knowledge you need, but with new, simplified ways to present these solutions to your clients."
Solutions that resulted in 5, 6, and 7 figure commissions.
But the best part?
Each solution is outlined in detail in the Appendix of the book.
You will not only be provided with the knowledge you need, but with new, simplified ways to present these solutions to your clients."
-Rick Bailey, JD, MAcc, CFP®
"Don't Just Take My Word For It"
See What Others Are Saying
"Rick Bailey is one the most knowledgeable advisors/consults in the industry. It is rare to have such skills in one individual. His ability to educate and teach along with real experience is second to none. He has been able to help consult on large complicated estate plans down to simple questions that often get over looked. I would highly recommend any person or professional connect with Rick to add his knowledge to their tool belt or personal situation. "
-Paul Mason, Esq.
"Rick has been open and available to educate and train on advanced planning cases for my HNW clients. He helped not only with presenting, but also with case design and building the recommendation behind why this make sense to get done.
Rick has impacted my business by helping me add six figures to my bottom line annually"
-Jon L. Bowles
"Rick Bailey is a consummate professional. He’s bright, personable and exceedingly skilled in the areas of tax law, financial planning, estate planning and risk mitigation. We worked together on a number of complex planning cases where his knowledge and expertise were key in closing the deals. I give him my highest recommendation."
-Chris Ostler, CPA
Here's Who This Works For
This Works If You're In Any Business Related To The Insurance & Financial Industries, Including The Following:
Life Insurance Agents
RIA's
CPA's
Investment Advisors
Attorneys
P&C Agents
Financial Planners
Even Your Clients!
So If You're Looking To Do More Advanced Planning In The High-Net-Worth & Business Owner Markets...
This Book Is For You
Here Are A Few Concepts You'll Discover In The Book
Take A Sneak Peek At The Case Studies And Solutions Inside:
Chapter 1: The Real Estate Developer
- Solution #1: Limited Liability Company
- Solution #2: Family Office
- Solution #3: Dynasty Trust
- Solution #4: Captive Insurance Company
- Solution #5: Life Insurance
Follow the story of Mr. James Sullivan, a real estate developer who has built a successful company over the years from the ground up, to the point that it is now worth over $40 million.
The company has ten employees. James is 62, and his wife Nancy is 60. They have three children, one of who is helping in the business and two who are not involved in it at all. They have five grandchildren, and they are considering how to transfer the estate as a legacy to the children and grandchildren.
Chapter 2: The Farmer
- Solution #1: Limited Liability Company
- Solution #2: Limited Partnership
- Solution #3: Life Insurance
- Solution #4: Dynasty Trust
- Solution #5: Premium Financing
Craig and Linda Lurquin operate a 500-acre farm. He's 58; she's 57.
They have five children of whom two think they want to be farmers. Of those two, one is married and is currently working on the farm with his parents.
one is still single; he is in school, but expects to be coming back and working on the farm.
None of the other three children want to be involved at all. Two of them are married without children, and one of them is single. So far, there are no grandchildren.
The farm is successful, with a net worth of $15 million. The Lurquin's live in an area where the city has been encroaching on the countryside, so part of the farm could potentially be developed. The Lurquin's are feeling the pressure, to decide how to deal with that situation.
Chapter 3: The Orthodontist
- Solution #1: Disability Insurance
- Solution #2: Buy-Sell Agreement
- Solution #3: Life Insurance
- Solution #4: Captive Insurance Company
- Solution #5: C Corporation Status
Dr. Earl Strom, a relatively young, self-employed orthodontist, is 48 years old, and his wife Sarah is 47. She handles the books for his practice. They have two children, both in school. They are planning to retire when he turns 60 with enough resources to maintain their lifestyle.
His practice is successful, and he grosses $2 million per year, with a net income of $750,000. He has done some advance planning, and the business has been set up as an S corporation. He has very little debt. He has paid off the equipment for his practice. Their home, which is worth $1.5 million, has a mortgage of $500,000. They have been contributing to the 401(k) at the practice and have a current balance of $225,000.
Chapter 4: The High-Net-Worth Couple
- Solution #1: Captive Insurance Company
- Solution #2: LLC for Real Estate
- Solution #3: Charitable Remainder Trust
- Solution #4: Life Insurance
- Solution #5: Dynasty Trust
Dr. Daniel Rockford (62) and his wife Jennifer (60) enjoy a good income from his medical practice where he has been a surgeon for quite some time, and they have made a good amount of money from both the business' income as well as through rental and investment properties.
Jennifer is a homemaker and is very active in charities, and the Rockford's have three children, all married, and have five grandchildren with more on the way.
Dr. Rockford is grossing $1.1 million annually and has $600,000 left after paying all business expenses but before taxes. The couple's monthly expenses are $20,000. His practice is set up as an S corporation. He has been contributing to a 401(k) that currently has a balance of $800,000.
In addition, the Rockfords have $2.2 million of rental property that they hold personally. They also have $2 million worth of investment or development property. Their home is worth $1.2 million, and the mortgage balance is $350,000.
In a few years, when he turns 65, Dr. Rockford wants to start cutting back on the hours that he will be working. By age 70, he wants to be completely retired.
Chapter 5: The Family Business Owner
- Solution #1: Setting Up a Corporation
- Solution #2: Setting Up Limited Liability Companies
- Solution #3: The Family Office
- Solution #4: Captive Insurance Company
- Solution #5: Key-Man Insurance Policies
- Solution #6: Irrevocable Trust or Dynasty Trust
This is a family business that happens to be a manufacturing company, but there are thousands of such closely held businesses of many descriptions. Self-employed people face many pressures, but there are many creative strategies - many arrows in the quiver - to help them.
Rick Hendrickson is 55, and his wife, Becky, is 54. They have a net worth of $20 million, and the majority of their net worth is due to the appreciation of the land and the building for the business.
They have four children. Two of them are in college, one has graduated from college (not in the business), and the fourth is a child with special needs. As of yet, they have no grandchildren.
The manufacturing company owns the building and the land, and it also owns a fleet of vehicles. the company nets $1.5 million per year, and the salary for Rick is $600,000.
Rick has been contributing to his company 401(k) plan. The account has been growing, but it will not be enough to maintain their lifestyle during retirement.
Chapter 6: The Marketing Organization
- Solution #1: Setting Up a Limited Liability Company
- Solution #2: Setting Up a Family Office
- Solution #3: Captive Insurance Company
- Solution #4: Life Insurance
Ben Martin is 52, and his wife, Kathy, is 48. Together, they operate a network marketing business. both are active in the business, but Kathy is the one who drives it. They have one son and two daughters, all of whom are out of school, and one of them is working with them in the business. two of their children are married , and they have one grandchild.
The business is structured as a sole proprietorship. The gross revenue is $800,000 a year. the business expenses are $5,000 a month or $60,000 a year. The couple's living expenses are $20,000 a month. Their home is worth $1 million, with a mortgage of $350,000. They also have a vacation home that is worth $600,000, with a mortgage of $420,000.
Many people had another business or profession before they got involved in network marketing. We know one gentleman who was a butcher until he injured his back. He is now 85 years old and making $2 million to $3 million a year in network marketing.
In this case, Ben had worked full time as a laborer, and Kathy started this business on the side to supplement their income. It wasn't long before her income exceeded his, and he retired. Today, their income is about 20 times what he had been earning as a laborer.
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"So What's The Catch?"
One of my greatest passions is helping life insurance and financial professionals become the advanced planning experts they have always wanted to be.
With that goal in mind, I wrote this book to educate advisors, AND be a prospecting tool that they can use in their businesses.
This book has been directly responsible for millions of dollars in commission for insurance and financial advisors, and has resulted in millions of dollars generated for clients worldwide.
Additional Concepts Discussed In Detail
The Concepts That Will Make You Stand Out
Estate Planning Fundamentals
➔ Charitable Planning
➔ Gifting
➔ Transferring Assets
➔ Estate Tax Laws
➔ Portability
➔ Annual Gift Tax Exclusions
➔ Basis
➔ Valuing Gifts: Fair Market Value
Life Insurance Overview
➔ Understanding MEC Rules
➔ How Life Insurance Works
➔ Indexed Universal Life
➔ Term Insurance
➔ Whole Life Insurance
➔ Universal Life Insurance
Buy-Sell Agreements
➔ "Trigger" Types
➔ Types of Buy-Sell Agreements
➔ Redemption Agreement
➔ Cross-Purchase Agreement
➔ Hybrid Agreement
➔ Benefits of a Buy-Sell Agreement
➔ Funding the Buy-Sell Agreement
Captive Insurance Companies
➔ "Micro Captive" Overview
➔ Managing Business Risks
➔ Why Use a Captive?
➔ $2+ Million Tax Deduction Explained
➔ Policies
➔ Risk Sharing
➔ Captive Mechanics
➔ Risk & Premium Flow
Business Entities
➔ What to Consider
➔ Tax Considerations
➔ Management
➔ Succession of Ownership
➔ Asset Protection
➔ Use in the Planning Process
➔ Partnership Taxation
➔ Basis
➔ Special Allocation
➔ Income Tax Planning
➔ Family Office
Dynasty Trusts
➔ When to Consider a Dynasty Trust
➔ Dynasty Trusts & Life Insurance
➔ Rules Against Perpetuities
➔ Generation Skipping Transfer Tax
➔ Benefits to the Beneficiaries
➔ Design
➔ Trustee Appointment
➔ Trustee Succession
➔ Trustee Removal
➔ Special Provisions
➔ Income & Transfer Tax Issues
➔ Creditor Protection
➔ Perpetual Values Trust
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