October 15, 2025 • 36 mins
In this episode, Jon G. Sanchez and Jason Gaunt review the latest market activity and explore the ongoing confusion around market trends. The conversation focuses on why asset protection has become a crucial component of sound financial planning. Jon and Jason outline key strategies involving trusts, LLCs, beneficiary designations, and the homestead exemption—explaining how each can play a role in helping individuals reduce exposure to lawsuits and financial risks.
Listeners will gain valuable insight into practical ways to organize their financial structures, protect accumulated wealth, and prepare for changing market conditions. Whether you’re evaluating your current estate plan or exploring retirement planning options, this discussion offers a timely look at wealth management in Reno and beyond.
Chapters
00:00 Navigating the Corporate Meeting Landscape
00:56 Market Sentiment and Economic Indicators
05:09 The Importance of Asset Protection
14:08 Market Movements and Sector Performance
21:47 Shrinking Attention Spans in Media Consumption
24:18 Asset Protection Strategies for Families
29:44 Understanding Revocable Trusts
32:42 The Importance of Proper Titling and Beneficiary Designation
34:35 Exploring the Homestead Exemption
41:11 The Role of Umbrella Insurance
👉 Watch this episode on YouTube: www.youtube.com/@thejonsanchezshow
👉 To learn more about retirement planning and wealth management in Reno, visit: sanchezgaunt.com
Compliance Disclosure: This program is for informational purposes only and should not be considered investment, tax, or legal advice. The views expressed are those of the participants and may not reflect the views of Sanchez Gaunt Capital Management. Investing involves risk, including the possible loss of principal. Past performance is not indicative of future results. Always consult with a qualified financial professional regarding your individual situation before making financial decisions.
Listeners will gain valuable insight into practical ways to organize their financial structures, protect accumulated wealth, and prepare for changing market conditions. Whether you’re evaluating your current estate plan or exploring retirement planning options, this discussion offers a timely look at wealth management in Reno and beyond.
Chapters
00:00 Navigating the Corporate Meeting Landscape
00:56 Market Sentiment and Economic Indicators
05:09 The Importance of Asset Protection
14:08 Market Movements and Sector Performance
21:47 Shrinking Attention Spans in Media Consumption
24:18 Asset Protection Strategies for Families
29:44 Understanding Revocable Trusts
32:42 The Importance of Proper Titling and Beneficiary Designation
34:35 Exploring the Homestead Exemption
41:11 The Role of Umbrella Insurance
👉 Watch this episode on YouTube: www.youtube.com/@thejonsanchezshow
👉 To learn more about retirement planning and wealth management in Reno, visit: sanchezgaunt.com
Compliance Disclosure: This program is for informational purposes only and should not be considered investment, tax, or legal advice. The views expressed are those of the participants and may not reflect the views of Sanchez Gaunt Capital Management. Investing involves risk, including the possible loss of principal. Past performance is not indicative of future results. Always consult with a qualified financial professional regarding your individual situation before making financial decisions.
Mark as Played
Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:02):
Good Wednesday afternoon.
Speaker 2 (00:03):
You welcome to the John Sanchez Show on News Talk
seven to eighty k which it's a pleasure to be
with you and a pleasure, of course to be with
my co host, my partner, Jason Sanchez, Gon Capital Management,
Big j Happy humpdaity.
Speaker 3 (00:14):
Yeah yeah happy. Uh. I don't know, I've kind of
confused market site. I'll be completely honest. Yeah, it's good.
It didn't feel as strong as it was today.
Speaker 4 (00:26):
But at the same time, you know, we had a
decent amount of positive words from I guess depending on
how you read it, but positive words I would say
from Scott Bessant, which helped the market a little bit.
Probably also gave some credibility to the Fed continuing their
interest rate lowering campaign given concerns around jobs and such.
(00:48):
Seeing the tenure right around four percent again, I think
it's getting housing probably. I'm sure Dwied'll be happier here soon,
But it continues to climb the wall of worry. Dip
is being bought, which is a good thing, versus rallies
being sold, which is very symptomatic of a bull market.
Speaker 1 (01:06):
So absolutely it is well.
Speaker 2 (01:08):
We got a lot to talk to you about about
the stock market side of things today is Jason just
basically alluded to, and of course we're going to talk
about basically the Trump administration announcing today they're looking at
ten thousand plus permanent permanent job losses because of the government,
not because the government shut down, but they're going to
do simultaneously with the government shut down. And I thought,
(01:31):
for sure, Jason will touch on this in a minute.
I thought for sure the market would would hicc up
a little bit on that news, and just didn't even
pay attention to it whatsoever. So, yeah, either they're saying
it's not going to happen, or oh if it does, okay,
big deal.
Speaker 1 (01:42):
You know, what is ten thousand among our our normal
you know, two.
Speaker 2 (01:45):
Hundred thousand or used to be two hundred thousand average
monthly job creation. We're nowhere near that anymore. But the
bottom line is the market didn't get upset about it.
So you know, it's just like I said, it's kind
of being teflon coded at this point.
Speaker 3 (01:57):
I think you're spot on it.
Speaker 4 (01:58):
It's either looking through it as in its temporary even
though they say it isn't, or it will cause more
AMMO for FED to cut rates, which will be stimulative
to the economy and whole you know it sort of
unfortunately a feeling of sacrificing some for the greater.
Speaker 1 (02:18):
Yeah, yeah, right, whatever.
Speaker 3 (02:19):
Analogy you want to use. I think that's kind. It's
more so like the.
Speaker 4 (02:24):
Market reading through it to say that's bad news, but
it may be good news from more steroids towards the.
Speaker 3 (02:33):
Pool.
Speaker 4 (02:33):
I mean, you see gold, you see silver with rates lower,
it just that that trade continues to climb higher.
Speaker 2 (02:40):
It's pretty incredibly exactly well, you know yesterday, Ja, I
know you obviously you weren't on the shows Corey and Dwight,
but I didn't get a chance to see the numbers today.
But speaking of the FED, as of yesterday, there was
a ninety six point seven percent probability according to the
CME FED Watch tool of an October rate cut, and
I think the day before I saw for December, and
they're still hovering right around the ninety percent mark. So
(03:02):
the market is very, very convinced that we've got two
more at least quarter percent cuts ahead of us for
the rest of the year. So that's another major driving
factor that you know, I think, I think most of
us have kind of forgot about it's like it's become
so expected, and like Dwight said, he goes John the
bond market and as well as the mortgage market and
mortgage backed securities and so on and so forth, it
already has a price in. So he's like, yeah, what
can we do to get you know, get these rates down?
(03:25):
And I think all the good news is out, you know,
like I said, when you see ninety percent plus probability,
pretty good odds that it's going to happen in historical sense.
Speaker 3 (03:32):
It's true.
Speaker 4 (03:33):
And I mean on the back of that, banks reporting
earnings today, very good numbers from Morgan Stanley, Bank of America,
PNC was lower. But I think overall the big guys,
the Goldman's, the Morgan Stanley's, the commentary continues.
Speaker 3 (03:49):
To be better.
Speaker 4 (03:50):
We haven't actually we haven't had Goldman yet, right, but
we had got did it? Was it?
Speaker 5 (03:54):
Yeah?
Speaker 3 (03:54):
I just I know I was watching.
Speaker 2 (03:56):
Yesterday gold Yesterday was far Yesterday today was Bank of
a America.
Speaker 4 (04:01):
And JP Morgan. We've had, like Jamie Diamond, numbers will blowout.
Even though he continues to be a bit of a
boo bear, but uh, you know, Semisac Strong, the circular
reference era eraror we talk about with you know, the
open AI somehow getting or giving money to someone sort
of continues to go on with Broadcom and and you
(04:24):
know Meta and.
Speaker 5 (04:25):
I just it.
Speaker 4 (04:26):
There's a lot of those relationships that I think are
optically positive to continue to add to some longer term concerns.
If one of them gets the hiccups of some kinds,
does it carry through to the group, which ultimately the
market's going to keep a keen eye on each other.
Speaker 2 (04:45):
Exactly exactly, all right, So we're gonna go into more details,
give you some of the movers and shakers in today's activity.
But let me tell you what our what our big
topic is. You know, folks, Here's here's something that Jason
and I spend a lot of time working with our
clients on, and that is this. They spend their whole lives,
their whole working lives, building up their assets, right and
however you value the asset, whether it's the house, whether
(05:07):
it's a four oh one k ira taxable brokerage, accounts, businesses,
so on and so forth.
Speaker 1 (05:12):
They spend their.
Speaker 2 (05:13):
Whole life building this up. But here's the question we
want you to be thinking about, how safe are your
assets one are you one lawsuit away from losing it
or losing all of it or a good portion of it.
And for many of you, the answer is probably yes,
because what we find is very few people and definitely
(05:33):
very few advisors, unfortunately, spend much time talking about the
asset protection side of your life.
Speaker 1 (05:39):
Right.
Speaker 2 (05:39):
We encourage you to build and build and build and
save and save and save and invest in, invest and invest,
but do we ever really spend a lot of time
talking about protecting what you have built. Because one of
the most devastating things Jason, you and I have seen
this so many times in our life is you know,
let's take the business owner, right. They're the ones that
are susceptible to lawsuits more than someone that's you know,
(06:01):
working a nine to five job. But you know, they've
done everything and then something happens, whether it was their
own fault or just haphazard circumstances, maybe an employee did
something that resulted in the business getting sued. And therefore,
of course, for most business owners, their net worth is
tied up in their business and they lost it all right,
(06:21):
And of course Murphy's Law always says, oh yeah, and
they did that right, before they were getting ready to
sell the business, or maybe there were a couple of
years away from retirement. Right, those are the things that
we all need to be thinking about. And Jason and I,
like I said, we spend a lot of time talking
about and strategizing for our clients these asset protection strategies.
So what we're going to be doing today is we've
created a list of what we feel are the seven
(06:42):
most powerful asset protection strategies for your family, your business,
your home, and most importantly, your legacy right because again,
many of us want to leave a legacy of for
our children. We want them to have a great life,
and you know, if we have money left over, we
want them to be able to benefit from that.
Speaker 1 (06:59):
We don't want to to go out in some some
frivolous lawsuit. And so know what.
Speaker 2 (07:05):
Got me thinking about this, Jason, You know there's a
there was a really interesting article in the a Reno
Gazette this morning and many of you, of course have
seen this store you followed it. But Citi of Sparks
settled a lawsuit an elderly woman. I believe she was
like eighty eight years old, and I think I can't
remember when this happened. It's been I think well over
a year, but she was out front of a Sparks
(07:27):
fire department and she was feeding the stray cats and
a firefighter came out and ended up, you know, according
to the video and all the testimony, pounding her into
the ground. She got all kinds of damages or injuries
and they ended up fighting it well. Just in the
last couple of days. What was released this morning in
the Reno Gazette that the City of Sparks settled with
(07:49):
this woman for one million dollars.
Speaker 1 (07:51):
Right.
Speaker 2 (07:51):
They went, of course, back and forth different settlement amounts.
The city started with five hundred thousand, her attorney countered
I think at one point too, and then they settled
on a million, and it's a done deal. But what
was interesting, Jason, is the city of Sparks uses Travelers
as their insurance company. The City of Sparks did not,
according to the article, did not defend themselves. They left
(08:14):
it up to Travelers. And this is what the reason
I'm bringing up this story. This is a perfect life
example of what you and I tell our clients to
do when we talk about asset protection strategies. We emphasize
an umbrella policy. And we'll touch on this in a moment,
but here's an example. The reason we recommend an umbrella
policy for our clients is number one, it's really cheap.
(08:36):
I mean you buy it in one million dollar increments.
Generally you're looking three to four hundred dollars from what
we see from our clients from all the big insurance companies.
But here's what we always tell our clients is, you know,
if you end up, you know, having to utilize this
umbrella insurance, guess what, You're not hiring your own attorneys
at three, four or five hundred dollars an hour. Your
(08:58):
insurance company is doing that. Why because they don't want
to write a check for whatever five hundred thousand, a million,
whatever the policy is. So they're going to send in
their very best attorneys and those attorneys are going to
settle it. And what I've seen over my career is generally,
if you have umbrella policy, that's where the planeff's attorney
is going to go and they're going to try to
get that. They're going to leave the rest of your
assets alone. Well, this you know Sparks situation. This was
(09:20):
a prime example, and Sparks made it very very clear
in this Reno Becausette article that this settlement was not
obviously an admission of guilt. But this settlement was completely
one hundred percent handled by the attorneys of Travelers. So
I conclude that to say exactly as we tell our clients,
look at the City of Sparks didn't foot this. Yeah,
I'm sure, very massive legal bill. And most importantly, Travelers
(09:42):
is writing the one million dollar check. The City of
Sparks is not writing the one million dollar check. So
you can lead this down right to a personal level.
And that's why again it got me thinking about the
importance of asset protection and just to kind of remind
everybody there's a lot of things you can do that
really don't cost you a lot of money that can
protect you against for those loss I mean whatever, the
reason is, every one of you, every one of you
(10:04):
are at risk of losing something, right, that's just life.
You can get into a bad car accident and the
damages can be far in excess of what your auto
policy covers you. Well guess what's something like umbrella could
kick in to protect you on that. So I'm really
excited Jason to talk about this because again we spend
almost every show talking about building wealth and so on
(10:25):
and so forth. Now let's spend this afternoon and talking
about how we protect it.
Speaker 1 (10:28):
All right, so we'll come back.
Speaker 2 (10:29):
Jason's going to go into some more details of some
of the movers and shakers in today's market activity, and
then bottom of the hour, when we come back from
that break, we'll get into our topic seven steps for
family outset Protection.
Speaker 1 (10:39):
Let's turn it over to Kristin Snow. She's in the
right now traffic center.
Speaker 2 (10:41):
Hello, Kristen, Welcome back to the John Sanchez Show on
News Talk seven eighty ko Waights with Jason got all right,
let's talk about how this market did diverge? You markets
just a seventeen point loss on the Dow Jones Industrial Average,
but buy did we have volatility especially on the downside.
Speaker 1 (10:59):
I even bore you with all those details as that.
Speaker 2 (11:01):
Grows one hundred and forty eight a point sixty six
percent gain to our close of twenty two thousand and
six seventy sm P five hundred and twenty six points
er point four zero percent to a close of six thousand,
six hundred and seventy one. On the commodity side, we
lost forty nine cents on oil fifty eight twenty eight
at barrel.
Speaker 1 (11:16):
Mister got another strong day in gold.
Speaker 2 (11:17):
Hopefully I'll mention a little bit more on that one
four thousand and three ninety one excuse four four thousand
and two oh four eighty announced and up two basis
points on the tenure or two yield of four to five.
Speaker 1 (11:29):
All right, it's talked about some of these movers.
Speaker 2 (11:31):
First of all, let's let's chat about goal because so
many people are going, is this thing ever going to stop?
Speaker 1 (11:35):
And there are reasons why the strength is there.
Speaker 4 (11:37):
Yeah, I mean today was text book lower interest rates?
What should work on lower interest rate days? Right?
Speaker 3 (11:44):
You had small caps up one percent.
Speaker 4 (11:47):
Sectors that outperformed were real estate, utilities, technology, Gold was higher,
You saw a currency moved. I mean, so today was
very much explained by the fact that rates continue to
signal a clear concern of deceleration in the economy that
would be met by the Fed cutting rates to help
(12:10):
offset it. Right, And you know, if the China narrative
can calm some that could help on other fronts as well.
But you know, good numbers out of the banks. The
steepening yield curve is going to continue to be favorable
for banks into the future. So that's really what today
was was more so just a focus of maybe a
(12:31):
more rate stimulative economy on the back of some slowing
data clearly jobs. The two parties are seemed to be
in no hurry to come.
Speaker 3 (12:41):
To amends around the.
Speaker 4 (12:44):
Government being shut whatever that means right now, you know,
But it's a rate market. That's the thing that the
market's focusing on because it doesn't really have data. Right,
there's no CPI we were supposed to get today or
some of the other economic case. Yeah, let's hope, right, yeah,
(13:05):
good good. I'm excited to see it. And I think
they kicked it to like mid to late October for CPI,
But yeah, I think that's really that I'd say today,
I would say interest rates were the dominating theme.
Speaker 2 (13:17):
Absolutely, and and and again the dollar movement of course
having an impact. Even Scott Pssent, the Treasure Secretary, on
that CNBC interview this morning we're touching on the beginning
of the show, he was talking very favorable about moving
the dollar and how that's favorable for gold and stuff
like that. So sure, yeah, we will, we will continue
to see but it's it's mind boggling. It is really
mind boggling. Let's talk some semiconductors. We had a big
(13:39):
move and ASML twenty six dollars sixty three cent game
two point seventy one percent. Stock closed at one thousand
nine dollars and eighty one cents. They reported some very
strong bookings in its third quarter. Again, they're in the
chip making equipment manufacturing sector of the market. AMD jay,
Remember when no one would touch am D It's like
(14:00):
it was all about Intel.
Speaker 1 (14:01):
I was thinking about that.
Speaker 2 (14:01):
This is where the news came out, like, yeah, you
couldn't pay somebody to buy AMD stock.
Speaker 1 (14:06):
And now here it is two hundred and thirty.
Speaker 2 (14:08):
Eight dollars and sixty cents, up nine point four percent
today to two thirty eight sixty the Semiconductor Index, the
Philly Semiconductor indexcept three percent today. You know, just have
a semiconductor in your name and it seems like everyone
wants to buy you.
Speaker 1 (14:21):
It's it's just incredible.
Speaker 3 (14:22):
Amen, Amen, what's that moving things over.
Speaker 1 (14:25):
The communications sector?
Speaker 2 (14:26):
Great move today in alphabet to Google of course, five
dollars and fifty two cents to fifty one seventy one
Meta eight dollars ninety cent, game seven, seventeen fifty, so
on and so forth. So you already went over the sector.
So overall, you know, again, this train just keeps plowing away.
And it was amazing, folks. You know, you're hard at
work at the job. And Jason, I said here and
we watched these trades going on, and boy, the bears
(14:50):
they keep trying to come out of hibernation.
Speaker 1 (14:52):
That's the best thing I can say.
Speaker 2 (14:53):
They'll try to drive this market down and where you go, okay,
coming almost like Friday, right Jay, it was like where
you had finally everything unravel about last Friday. But they
keep trying to do that this week, and so they
get it down. It looks like okay, here we go
on the downside, and then here come the bulls and
they start bidding this thing up. These algorithms are just man,
it's so hard to predict. I mean, I know that's
(15:15):
kind of your old world and stuff, that the quant
trading and stuff, but boy, it can be really frustrated
if you were a day treader right now trying to
figure out because again it sets up for a fall
in the boom comes back or it's running up and
then also boom, here comes the selloff, right.
Speaker 4 (15:29):
Yeah, And it's just it's flow of funds too, right.
It's just a function that there's more buyers than sellers
right now. And that seems simplistic, but it's true. And
you've got to follow the money you've got. As earnings
go away, these banks will become buyers of their own shares, right,
that's seasonality. You're getting into the best six months of
the year here end of October, right, and people who
(15:52):
got bearish and we're worried about the market going down,
given that September August tend to be bad times of
the year, really didn't get much, will pull back to
buy into and then they're forced to chase. And that's
what you're starting to see now. And that's only going
to continue to accelerate. If the market goes higher, the
buyers are higher. And that's how this tape's going to be.
Speaker 1 (16:12):
Love it great summary.
Speaker 2 (16:13):
I want to bring some news going out in the
after hours right now. Just came out regarding sales Force.
Stock is moving very nice on the after hours. That's
remember this is a Dow component right now, Let's tell
you what it did the regular session, down three dollars
and nineteen cents one point three to three percent loss
to two thirty six fifty eight coming across the tapes
right now. Stocks up nine dollars and thirty nine cents
three point nine seven percent to two forty five ninety seven.
(16:36):
The company just said they now expect over sixty billion
dollars in twenty thirty. I believe that would be in
the revenue side of things. That's well above the fifty
eight point three to seven billion consensus among Wall Street.
I mean, that's going pretty far out in twenty thirty.
But the guidance excludes impact from eight billion dollars pending
(16:59):
acquisition of a data management company, so on and so forth.
So it looks like Mark Binnioff is out there on
stage doing a song and dance, and you know, investors
like what they're hearing so far, because remember folks, this
the stock is down about twenty nine percent year today,
or you got the NASDA cup you know, roughly seventeen percent.
So it has definitely been an underperformer. And uh, I'm
(17:20):
surprised you haven't. Have you ever looked at have you
ever used salesforce in any of the firms You've.
Speaker 3 (17:26):
Been with No, No, I haven't. I mean I know
of firms that use it for sure, but.
Speaker 1 (17:32):
Yeah, they do.
Speaker 2 (17:32):
You know, I tried it a few times and I
just I don't know. It's a it's a beast of
a program. I mean that positively. It just does so much.
But you know, they just keep rein vinning. And I
think they announced the other day. You know, they're laying
off a pretty good chunk of people and because of AI,
and they're they're obviously getting huge into the AI. And remember,
(17:52):
if you don't know what Salesforce is, they're a CRM
or customer relation management software that every business needs a CRM.
It seems like this is where you keep your clients data,
but you can mine it for all kinds of information.
It's it's a critical aspect of just about any business.
And they're you know, they're a huge market if not
the market leader, they're right up there at the top.
So it's interesting to see if that stuck continues to
(18:13):
bid up in the after hour session. All Right, you
are now up to day on what happened to the market,
what's going on in the after hours. Now, let's get
back to again what we're gonna be talking about when
we come back, seven steps to protect your family assets. Right,
you got to think about these. You're spending all these
hard days, working all these years. Let's give you some
strategies to protect them. We've got them for you. Start
it over to Jack Saban. First of all, he's got
(18:34):
news trafficking weather. Hello, Jack, Welcome back to the John
Sanchez Show on this Talk seven eighty k which with
Jason gott once again. We finished down seventeen on the Dow,
rose on the NASDAC, and I had twenty seven point
gain on the S and P five hundred. All right,
we're gonna shift you from the growth mode of your
life to now the asset protection side of things. Like
I said at the beginning of the show, we're gonna
(18:55):
share with you what we feel are seven powerful asset
protection strategies every families should know to safeguard their home,
their investments, from lawsuits, from creditors, et cetera. And I guess,
most importantly, Jason, from life's unexpected, which none of us
can obviously predict when that's going to happen, but we've
all either had it happen to ourselves or seen people
(19:19):
you know, that's impacted.
Speaker 1 (19:20):
So there's only so much you can do.
Speaker 2 (19:22):
But I think we got, like I said, seven very
powerful strategies to do with it. So let's get the
ball roll in, my friend. Let's talk a little bit
about some of the basics of a state planning, i e.
The creation of a revocable trust. What the heck is it?
Why is this an asset protection strategy?
Speaker 5 (19:34):
Yeah?
Speaker 4 (19:34):
I mean this is the cornerstone of any estate plan, right.
This gives us the ability to really delineate assets that
are not held inside of an IRA, but you know,
homes and taxable assets. You can really get a good
path for your beneficiaries after you're gone.
Speaker 3 (19:56):
More often than not, these are set up to make.
Speaker 4 (19:59):
Your end of life plans nice and cut and dry
for your beneficiaries. Instead of probate costs and fees and confusion,
you create a family trust. Your assets are held inside
that family trust, just keeping it so there's lots of
complex trust, but overall, a revocable living trust that allows
you to designate beneficiaries allows you to have a nice
(20:22):
document that's immutable that will survive long after you're gone
for your beneficiaries and folks to take your assets and
do with them as you would like versus a will
that buy and large, as we've explained before, is a
letter of instruction to a probate judge, and people can
come and wave their hand and say, hey, some of
(20:44):
those assets are mine versus where if they're in a trust.
Speaker 3 (20:47):
There's a lot of.
Speaker 4 (20:51):
Comfort in knowing that your wants and needs and desires
will be carried through after you're gone. And that's what
a revocable living trust does. Recommend them all the time,
and they're simple to do. They take a little bit
of thought, but overall that's really just the start of
the building block, for sure, it really is.
Speaker 2 (21:10):
Yeah, it's one of the misconceptions, Jason, that people have
is that there's lawsuit protection when they have a living trust,
and that's not the case. Right, you hit it right
on the head. But again, it's probate avoidance. It's laying
out your life while you're still alive after you are gone, right,
And none of us, none of us want to be
(21:32):
able to put that burden on our spouse or on
our family saying geez, what did dad want to have
happened with this amount of money or this account or
what was his favorite charity. But you know, folks, two misconceptions.
Then we'll move under our second point, and that is
number one. I need to be wealthy to have a
living trust. That is not the case most of the state
of planning. Most estate planning attorneys will recommend if you
(21:53):
have twenty thousand dollars or more of assets, you need
a living trust, not a will, but a living trust. Okay,
So the other misconception, people go, oh, geez, you know,
maybe I don't have that well. Factor in life insurance proceeds.
Even though we receive life insurance proceeds, if we're a
beneficiary tax free, it's still counted in the aggregate value
of your state. So you may not have much. Maybe
(22:14):
you're a young person starting out, but yeah, you know,
you bought a three hundred thousand dollars term policy through
your employer for twenty bucks a month. Guess what whoever's
going to get that money? That could be a problem, right,
or if you're going to inherit that money if you're
a beneficiary, that could throw you into you know, immediate
estate planning needs. So there's this, and we'll do more
shows on this coming up very soon. But just remember
(22:35):
a living trust is one of the very best things
that you can ever ever do. And like I said,
we're going to go into much more detail here in
a few weeks on that. But Jason, you mentioned one thing.
I want to throw this out one more time, the
privacy side of things. You know no one besides you
don't want the government and judges and attorneys taking your hard,
hard earned assets, which you know will happen and which
(22:59):
could happen, I should say, if you don't have a
living trust. But also it's the privacy issue right if
you if your state goes to probate, that's an open
public forum. People can walk in off the street and go, hey,
what did Jason Gaunt have?
Speaker 1 (23:12):
You know?
Speaker 2 (23:12):
I heard that dude on the radiobdi it was a
rich son of a guy. Let me hear what he had.
Can't do that. When you have a revocable trust, it's
all private, right because there is no probate and so
on and so forth. So those of you that like
your privacy, which I know a lot of you do,
that's just one of the many, many reasons. And then
we throw in things like medical directives. You know, I
know Jason very well is my best friend in the world.
(23:34):
But I don't know your life, I don't know your wishes.
Right If I was your child and you're like, holy moly,
you know I blessing in the world. I wanted to
be left on life support. No one knows that, right.
But if you have a living trust, you have what's
called the medical directive.
Speaker 1 (23:46):
Same thing on there.
Speaker 2 (23:47):
Tell real quickly, Jason, what we how we deal with
the living trust in our office. When it comes to
the power of attorney, the financial power of attorney.
Speaker 4 (23:53):
It must have too where you can utilize that for spouses.
If one of your spouses is you know, in opacitated
or unable to act.
Speaker 3 (24:02):
If you don't have that in place, you're in a
tough spot.
Speaker 4 (24:04):
Whereas most trusts, as you're setting them up, power of
attorney or included in those documents as well.
Speaker 2 (24:11):
That's right, absolutely, So Again the list is a mile long.
Just consider this as one of the key asset protection strategies. Again,
want avoid you you know, there's no asset protection from
a lawsuit, but asset protection as far as passing your
wealth onto the people that you wanted to go to
or charities, et cetera. So I I said we'll go
in much more detail here in a few weeks as
we're putting together a great program on this. All right,
(24:33):
let's go to number two. You need to establish an
LLC or a family family limited partnership. I'm going to
kind of push aside the family limited partnership or FLP
because we could do an entire show on that's a
very complicated area.
Speaker 1 (24:45):
But the LLC.
Speaker 2 (24:46):
Those of you that I listened to us for years,
you know how much of a proponent we are of
an LLC. And the best way I can tell you
about this is this, anything that you do in your
life that has risk, you want to get it out
of your overall estate. And the best analogy I always
tell people is visualize a big circle. Right, that's your
entire estate. And let's say your state's worth a million dollars.
But let's say you have a rental. Right, Well, if
(25:08):
you don't have an LLC, that rental is in that
big circle, meaning if you got sued by your tenant
on that on that rental, Let's say you decide to
go play electrician and replace the outlet in the rental
and little Johnny, you know, plugs his toy into it.
And gets electrocuted and dies. You know you're gonna have
a lawsuit on your heads. Well, guess what first thing
an attorney's going to do, folks. They're going to do
an asset search on you. Number one, you have to
(25:30):
list all of your assets. Number two, they'll do their
own search, and with today's technology, you can find out
what anybody owns. So attorney's going to come to you
and go, hey, guess what, Jason, I see you have
a net worth of a million plus dollars and oh
this rental where my you know, Tennis child just died.
Guess what that's inside this big circle meaning it's you know,
essentially co mingled with all of your other assets. Guess what, Jason,
(25:53):
Not only am I going to sue you for that
rental for my client, I'm going to go after all
of your other assets. And there's nothing you can do
unless you have a really good attorney to fight that.
So how do we do it? Really simple? We are
so fortunate to live in a state that makes setting
up an LLC to a very very simple process. I
mean we can set it up in what an hour?
I mean, if that as fast as we can go
(26:14):
through the baby board, It's very simple to set up
an LLC. So anything such as this rental example, you
want to hold that in an LLC, same scenario happens,
the lawsuit gives what Now that attorney can only go
after that rental in this example, Right, if you lose, okay,
big deal. At least they can't come after your big
circle where your bank accounts are and so on and
so forth. That's just a very very simple explanation of it.
(26:37):
But bottom line, the LLC shields you from personal liability.
How we help our clients Besides on the real estate side,
we have a lot of clients that will retire and
then go, eh, you know what, it's not really what
I want.
Speaker 1 (26:48):
My company just offered me to come back as a consultant.
Speaker 2 (26:51):
So what Jason and I will do will help them
set up an LLC for this new consulting business. They
then get paid as a ten ninety nine employee by
their former employer that now opened up all kinds of
tax deductions to them. We can set up a retirement
plan for them, We can do all kinds of things
on top of again asset protection. I mean, I personally,
I don't know, Bailey, how many I've lost track. To
(27:14):
be honest, there's like.
Speaker 3 (27:15):
A memory is greater than five, Yeah.
Speaker 2 (27:17):
Greatly, let's say greater than five. And so it's just
an absolute must. And again our state makes it very simple.
It's not expensive, you know, seven hundred and fifty bucks
or so to set one up yourself or hire an
attorney to do it a little bit more money, but
it is an absolute must and one of the most
simplistic but powerful asset protection strategies in my opinion. Let's
(27:37):
go to something else. The office deals with a lot Jason.
The proper titling and beneficiary designation.
Speaker 4 (27:43):
Absolutely, and this is something that we go through with
our account reviews. We put all the beneficiaries in front
of our clients each time they meet with us to
make sure that everything is in line with their desires.
But yeah, I mean having primary beneficiaries on assets, having
contingent beneficiaries on assets. A transfer on death helps you
with individual accounts. If you haven't yet set up that
(28:06):
trust and yet still want something to go around probate,
a TOD will do that for you.
Speaker 3 (28:11):
Joint tendancy.
Speaker 4 (28:13):
We're a community property state, so there's some nuances around that.
So reviewing and making sure that the beneficiaries and or
other titles for your accounts are set up correctly is
paramount for sure, and that's something that you should be
reviewing yourself or with your advisor as often as you can.
Speaker 2 (28:32):
Absolutely, absolutely, and again as we get into the end
of the year, we start going through end of the
year checklists and things like that. That's one thing we
always remind the clients of is review your beneficiaries, your
life insurance, you're obviously your iras, your four to one
K work, anything that you have that you have a
beneficiary designation. It's a great time to do that because
lasting again kind of like a state planning, last thing
(28:53):
you want is your money upon your passing to go
to someone or somewhere that you didn't intend it to.
And where we see a big problem is when you
get a divorce, right you forget to remove that ex
husband or that ex wife from your four win K
beneficiary designation form or your IRA.
Speaker 1 (29:08):
And you know then you pass it. Guess what we
have to week?
Speaker 4 (29:12):
Do you have to wait till after your divorced or
they' just time to be removed. Just as a little
tip for anyone out there who's thinking about following your
divorce decree.
Speaker 2 (29:21):
Follow your divorce decree, bottom line. All right, next one
we're gonna cover when we come back. And this is
another great thing about being a resident of the state
of Nevada, and that is this thing called a homestead exemption. Jason,
if I could tell you that you could shelter six
hundred and five thousand dollars of equity for oh it's
call it fifteen twenty five bucks somewhere around there, you think.
Speaker 1 (29:40):
That's a pretty good deal.
Speaker 3 (29:41):
I think it's awesome, absolutely very good.
Speaker 2 (29:43):
We'll tell you about it in a moment, what we're
talking about with a homestead exemption. Turning over to Christmastowe
to wrapping us up in the right own traffic center. Hello, Kristen,
welcome back to the John Sanchez Show on this Talk
seven to eighty koh All right, as usual, I think
we're gonna run out of time to get through our
seven steps to family Asset Protection. If you'd like a
copy of this, just send an email to our marketing
(30:04):
director Bailey at Sanchez Gaunt dot com ga U n
T and she'll forward this list on over to you.
All right, so we've talked about number one, create a
revocable trust. Number two, established an LLC or a family
limited partnership for at risk assets. Number three Jason's touched
on the proper titling and beneficiary designation.
Speaker 1 (30:22):
And number four.
Speaker 2 (30:23):
All right, so I tease Jason, I said, Jason, for
you know, fifteen bucks. If I said, I, you know,
pay me fifteen I'm going to protect six hundred and
five thousand dollars of an asset.
Speaker 1 (30:32):
Sound like a good deal, and becau us of course.
Speaker 2 (30:34):
Well, what we're talking about, of course, is again this
is one of the great things about being a Nevada resident.
It's called the Nevada homestead exemption. And what is it. Well,
many of you when you bought your home, you probably
were told by an escrow company or you got a
lovely email advertising, hey, we can do this for you
for you know, one hundred hundred and fifty dollars.
Speaker 1 (30:51):
No, no, no, no, no, you know need to do that.
Speaker 2 (30:53):
Go to the website of our friends over at Washo
County Recorder, download a homestead exemption form. File it immediately.
Speaker 1 (30:59):
Now, what is it?
Speaker 2 (31:00):
Homestead exemption in the state of Nevada, and it varies
this amount. I'm going to share with you various from
state to state. So I'm just going to talk Nevada
will protect the equity in your home up to six
hundred and five thousand dollars. I mean, Jason, when I
started talking about these, it was like two or three
hundred thousand.
Speaker 1 (31:16):
It just keeps going up.
Speaker 2 (31:17):
Six hundred and five thousand dollars of the equity in
your home will be protected from creditors other than the irs.
They're the only ones that can pierce this. So again,
back to the lawsuit. You get sued on something, first
thing that attorney does, They're going to go after your
house if you don't have it protected with a homestead exemption.
You have that homestead exemption even if you have more
than six hundred and five thousand inequity. Many times attorneys
(31:38):
that I've talked to they won't even mess with it's
too complicated. What does it cost Jason to file a
homestead exemption with the Washill County Recorder?
Speaker 3 (31:46):
Fourteen dollars or.
Speaker 2 (31:47):
Fourteen I'm sorry, h proy somethime went down the pot.
There you go, fourteen dollars. It literally is that simple, folks.
It will again go on your title or on your
on your title. Very very simple process. Little trick I
want to share with everybody is if you file your
homestead exemption, get it on there so when you get
your living trust created you want to do it, then
(32:10):
you know if you have never done it. A lot
of times many attorneys will get make sure that gets
done when you do your your living trust. But here's
a problem many people are not aware of, and that
is this if you get a new loan on your house,
so let's say it's a refinance or whatever the case is,
or you go from your current titling, single or joint
tenants to your trust, many times that if you had
(32:34):
the homestead exemption, it will fall off, especially in the
in the refinance. I see that over and over again.
I've seen goods grow. Companies will tell the client, hey,
your homestead exemption fell off, go file a new one.
I've seen that many times where people Jason have been
you know, hey, I filed my homestead exemption.
Speaker 1 (32:50):
When I ask him years ago, I go you ever
a refinance your house?
Speaker 2 (32:53):
Oh yeah, A couple of times and we'll pull it
up on the Canary Recorders website and they don't have it.
Why because it falls off when you get that new loan,
and so remember you can only have it on when
it can only be on your primary residence. But if
anything changes on your loan, again, great to go back
and refile, pay the fourteen bucks and get it back
on there. And just remember, folks, this is one of
(33:14):
the simplest things you can do from an asset protection standpoint. Again,
spend fourteen bucks and be able to protect up to
six hundred and five thousand of your equity and.
Speaker 1 (33:22):
Also really wrap us up good.
Speaker 3 (33:24):
Yeah, I just want to put it along the recorder line.
Speaker 4 (33:27):
I'm sure people have seen those commercials about oh my gosh,
they're going to steal the deed to your house and
create all this debts. So in Washoe County, you can
swing by our office. We're ninety one sixty Double Diamond
Parkway right across from the DMV. I've got QR codes
that you literally just click on to register with Washoe
County and they'll text you anytime anything changes on your
(33:49):
specific deed. It's awesome to have, so if you have
any concern about it, you can reach out to them
directly or like I said, swing by our office. We've
got a whole stack of these that they gave to
me directly when I did my homestead nobody a year ago.
Speaker 2 (34:02):
So love it, love it all right, we only got
about thirty seconds left. Umbrella insurance, right, we touched on that.
Talk to your You need to have your autos and
your home insured by the same insurance company in most cases.
So if you have that, go talk to your insurance agent,
have them run you a quote. You buy it a
million dollar increments. The amount is based upon you how
risky your life is, so on and so forth. But
(34:24):
again it's the best form of insurance in my opinion
that a person could get. Again, so very very affordable,
three or four hundred bucks per million. And again it
protects above and beyond your auto in your home policy.
So crazy things in life. You know, many of your skiers,
let's say you crash and you crash somebody into a
tree and they die. Auto a home is not going
to cover it. That's where your umbrella could step in.
Just these Again, that's where the term umbrella comes from.
(34:46):
It covers over your auto in your home.
Speaker 1 (34:49):
Also.
Speaker 2 (34:50):
You know, most people, Jason, have what three hundred thousand
dollars liability on their insurance. You know a three hundred
thousand dollars lawsuits nothing anymore. Use it's multi million. Your
insurance carrier writes to check for three hundred thousand. Y're
on your own for legal representation, et cetera. Umbrella they
send them their attorneys, they write the check if they
lose the case.
Speaker 1 (35:08):
So one of the very best things you can do.
That was a lot of fun.
Speaker 2 (35:12):
I wish we could have got through the rest of
the list, but again, send an email Bailey at Sanchez
dot com, shook get that list over to you. Great job,
my friend. We'll do it again tomorrow on The John
Sanchez Show up lists.
Speaker 5 (35:20):
John Sanchez is a registered investment advisor, and the opinions
expressed by Sanchez Gone Capital Management, LLC on the show
or their own and do not reflect the opinions of
News Talks seven eighty or its pairing company, Cumulus Media.
All statements and opinions expressed are based upon information considered reliable,
although it should not be relied upon. As such, any
(35:40):
statements or opinions are subject to change without notice. Information
presented is for educational purposes on the end. Does not
intend to make an offer or solicitation for the sale
or purchase of any specific securities, investments, or investment strategies.
Investments involve risk, and, unless otherwise stated or not guaranteed.
Informationation Express does not take into account your specific situation
(36:03):
or objectives, and is not intended as recommendations appropriate for
any individual. Listeners are encouraged to seek advice from a
qualified tax, legal, or investment advisor to determine whether any
information presented may be suitable for their specific situation. Past
performance is not indicative of future performance
Good Wednesday afternoon.
Speaker 2 (00:03):
You welcome to the John Sanchez Show on News Talk
seven to eighty k which it's a pleasure to be
with you and a pleasure, of course to be with
my co host, my partner, Jason Sanchez, Gon Capital Management,
Big j Happy humpdaity.
Speaker 3 (00:14):
Yeah yeah happy. Uh. I don't know, I've kind of
confused market site. I'll be completely honest. Yeah, it's good.
It didn't feel as strong as it was today.
Speaker 4 (00:26):
But at the same time, you know, we had a
decent amount of positive words from I guess depending on
how you read it, but positive words I would say
from Scott Bessant, which helped the market a little bit.
Probably also gave some credibility to the Fed continuing their
interest rate lowering campaign given concerns around jobs and such.
(00:48):
Seeing the tenure right around four percent again, I think
it's getting housing probably. I'm sure Dwied'll be happier here soon,
But it continues to climb the wall of worry. Dip
is being bought, which is a good thing, versus rallies
being sold, which is very symptomatic of a bull market.
Speaker 1 (01:06):
So absolutely it is well.
Speaker 2 (01:08):
We got a lot to talk to you about about
the stock market side of things today is Jason just
basically alluded to, and of course we're going to talk
about basically the Trump administration announcing today they're looking at
ten thousand plus permanent permanent job losses because of the government,
not because the government shut down, but they're going to
do simultaneously with the government shut down. And I thought,
(01:31):
for sure, Jason will touch on this in a minute.
I thought for sure the market would would hicc up
a little bit on that news, and just didn't even
pay attention to it whatsoever. So, yeah, either they're saying
it's not going to happen, or oh if it does, okay,
big deal.
Speaker 1 (01:42):
You know, what is ten thousand among our our normal
you know, two.
Speaker 2 (01:45):
Hundred thousand or used to be two hundred thousand average
monthly job creation. We're nowhere near that anymore. But the
bottom line is the market didn't get upset about it.
So you know, it's just like I said, it's kind
of being teflon coded at this point.
Speaker 3 (01:57):
I think you're spot on it.
Speaker 4 (01:58):
It's either looking through it as in its temporary even
though they say it isn't, or it will cause more
AMMO for FED to cut rates, which will be stimulative
to the economy and whole you know it sort of
unfortunately a feeling of sacrificing some for the greater.
Speaker 1 (02:18):
Yeah, yeah, right, whatever.
Speaker 3 (02:19):
Analogy you want to use. I think that's kind. It's
more so like the.
Speaker 4 (02:24):
Market reading through it to say that's bad news, but
it may be good news from more steroids towards the.
Speaker 3 (02:33):
Pool.
Speaker 4 (02:33):
I mean, you see gold, you see silver with rates lower,
it just that that trade continues to climb higher.
Speaker 2 (02:40):
It's pretty incredibly exactly well, you know yesterday, Ja, I
know you obviously you weren't on the shows Corey and Dwight,
but I didn't get a chance to see the numbers today.
But speaking of the FED, as of yesterday, there was
a ninety six point seven percent probability according to the
CME FED Watch tool of an October rate cut, and
I think the day before I saw for December, and
they're still hovering right around the ninety percent mark. So
(03:02):
the market is very, very convinced that we've got two
more at least quarter percent cuts ahead of us for
the rest of the year. So that's another major driving
factor that you know, I think, I think most of
us have kind of forgot about it's like it's become
so expected, and like Dwight said, he goes John the
bond market and as well as the mortgage market and
mortgage backed securities and so on and so forth, it
already has a price in. So he's like, yeah, what
can we do to get you know, get these rates down?
(03:25):
And I think all the good news is out, you know,
like I said, when you see ninety percent plus probability,
pretty good odds that it's going to happen in historical sense.
Speaker 3 (03:32):
It's true.
Speaker 4 (03:33):
And I mean on the back of that, banks reporting
earnings today, very good numbers from Morgan Stanley, Bank of America,
PNC was lower. But I think overall the big guys,
the Goldman's, the Morgan Stanley's, the commentary continues.
Speaker 3 (03:49):
To be better.
Speaker 4 (03:50):
We haven't actually we haven't had Goldman yet, right, but
we had got did it? Was it?
Speaker 5 (03:54):
Yeah?
Speaker 3 (03:54):
I just I know I was watching.
Speaker 2 (03:56):
Yesterday gold Yesterday was far Yesterday today was Bank of
a America.
Speaker 4 (04:01):
And JP Morgan. We've had, like Jamie Diamond, numbers will blowout.
Even though he continues to be a bit of a
boo bear, but uh, you know, Semisac Strong, the circular
reference era eraror we talk about with you know, the
open AI somehow getting or giving money to someone sort
of continues to go on with Broadcom and and you
(04:24):
know Meta and.
Speaker 5 (04:25):
I just it.
Speaker 4 (04:26):
There's a lot of those relationships that I think are
optically positive to continue to add to some longer term concerns.
If one of them gets the hiccups of some kinds,
does it carry through to the group, which ultimately the
market's going to keep a keen eye on each other.
Speaker 2 (04:45):
Exactly exactly, all right, So we're gonna go into more details,
give you some of the movers and shakers in today's activity.
But let me tell you what our what our big
topic is. You know, folks, Here's here's something that Jason
and I spend a lot of time working with our
clients on, and that is this. They spend their whole lives,
their whole working lives, building up their assets, right and
however you value the asset, whether it's the house, whether
(05:07):
it's a four oh one k ira taxable brokerage, accounts, businesses,
so on and so forth.
Speaker 1 (05:12):
They spend their.
Speaker 2 (05:13):
Whole life building this up. But here's the question we
want you to be thinking about, how safe are your
assets one are you one lawsuit away from losing it
or losing all of it or a good portion of it.
And for many of you, the answer is probably yes,
because what we find is very few people and definitely
(05:33):
very few advisors, unfortunately, spend much time talking about the
asset protection side of your life.
Speaker 1 (05:39):
Right.
Speaker 2 (05:39):
We encourage you to build and build and build and
save and save and save and invest in, invest and invest,
but do we ever really spend a lot of time
talking about protecting what you have built. Because one of
the most devastating things Jason, you and I have seen
this so many times in our life is you know,
let's take the business owner, right. They're the ones that
are susceptible to lawsuits more than someone that's you know,
(06:01):
working a nine to five job. But you know, they've
done everything and then something happens, whether it was their
own fault or just haphazard circumstances, maybe an employee did
something that resulted in the business getting sued. And therefore,
of course, for most business owners, their net worth is
tied up in their business and they lost it all right,
(06:21):
And of course Murphy's Law always says, oh yeah, and
they did that right, before they were getting ready to
sell the business, or maybe there were a couple of
years away from retirement. Right, those are the things that
we all need to be thinking about. And Jason and I,
like I said, we spend a lot of time talking
about and strategizing for our clients these asset protection strategies.
So what we're going to be doing today is we've
created a list of what we feel are the seven
(06:42):
most powerful asset protection strategies for your family, your business,
your home, and most importantly, your legacy right because again,
many of us want to leave a legacy of for
our children. We want them to have a great life,
and you know, if we have money left over, we
want them to be able to benefit from that.
Speaker 1 (06:59):
We don't want to to go out in some some
frivolous lawsuit. And so know what.
Speaker 2 (07:05):
Got me thinking about this, Jason, You know there's a
there was a really interesting article in the a Reno
Gazette this morning and many of you, of course have
seen this store you followed it. But Citi of Sparks
settled a lawsuit an elderly woman. I believe she was
like eighty eight years old, and I think I can't
remember when this happened. It's been I think well over
a year, but she was out front of a Sparks
(07:27):
fire department and she was feeding the stray cats and
a firefighter came out and ended up, you know, according
to the video and all the testimony, pounding her into
the ground. She got all kinds of damages or injuries
and they ended up fighting it well. Just in the
last couple of days. What was released this morning in
the Reno Gazette that the City of Sparks settled with
(07:49):
this woman for one million dollars.
Speaker 1 (07:51):
Right.
Speaker 2 (07:51):
They went, of course, back and forth different settlement amounts.
The city started with five hundred thousand, her attorney countered
I think at one point too, and then they settled
on a million, and it's a done deal. But what
was interesting, Jason, is the city of Sparks uses Travelers
as their insurance company. The City of Sparks did not,
according to the article, did not defend themselves. They left
(08:14):
it up to Travelers. And this is what the reason
I'm bringing up this story. This is a perfect life
example of what you and I tell our clients to
do when we talk about asset protection strategies. We emphasize
an umbrella policy. And we'll touch on this in a moment,
but here's an example. The reason we recommend an umbrella
policy for our clients is number one, it's really cheap.
(08:36):
I mean you buy it in one million dollar increments.
Generally you're looking three to four hundred dollars from what
we see from our clients from all the big insurance companies.
But here's what we always tell our clients is, you know,
if you end up, you know, having to utilize this
umbrella insurance, guess what, You're not hiring your own attorneys
at three, four or five hundred dollars an hour. Your
(08:58):
insurance company is doing that. Why because they don't want
to write a check for whatever five hundred thousand, a million,
whatever the policy is. So they're going to send in
their very best attorneys and those attorneys are going to
settle it. And what I've seen over my career is generally,
if you have umbrella policy, that's where the planeff's attorney
is going to go and they're going to try to
get that. They're going to leave the rest of your
assets alone. Well, this you know Sparks situation. This was
(09:20):
a prime example, and Sparks made it very very clear
in this Reno Becausette article that this settlement was not
obviously an admission of guilt. But this settlement was completely
one hundred percent handled by the attorneys of Travelers. So
I conclude that to say exactly as we tell our clients,
look at the City of Sparks didn't foot this. Yeah,
I'm sure, very massive legal bill. And most importantly, Travelers
(09:42):
is writing the one million dollar check. The City of
Sparks is not writing the one million dollar check. So
you can lead this down right to a personal level.
And that's why again it got me thinking about the
importance of asset protection and just to kind of remind
everybody there's a lot of things you can do that
really don't cost you a lot of money that can
protect you against for those loss I mean whatever, the
reason is, every one of you, every one of you
(10:04):
are at risk of losing something, right, that's just life.
You can get into a bad car accident and the
damages can be far in excess of what your auto
policy covers you. Well guess what's something like umbrella could
kick in to protect you on that. So I'm really
excited Jason to talk about this because again we spend
almost every show talking about building wealth and so on
(10:25):
and so forth. Now let's spend this afternoon and talking
about how we protect it.
Speaker 1 (10:28):
All right, so we'll come back.
Speaker 2 (10:29):
Jason's going to go into some more details of some
of the movers and shakers in today's market activity, and
then bottom of the hour, when we come back from
that break, we'll get into our topic seven steps for
family outset Protection.
Speaker 1 (10:39):
Let's turn it over to Kristin Snow. She's in the
right now traffic center.
Speaker 2 (10:41):
Hello, Kristen, Welcome back to the John Sanchez Show on
News Talk seven eighty ko Waights with Jason got all right,
let's talk about how this market did diverge? You markets
just a seventeen point loss on the Dow Jones Industrial Average,
but buy did we have volatility especially on the downside.
Speaker 1 (10:59):
I even bore you with all those details as that.
Speaker 2 (11:01):
Grows one hundred and forty eight a point sixty six
percent gain to our close of twenty two thousand and
six seventy sm P five hundred and twenty six points
er point four zero percent to a close of six thousand,
six hundred and seventy one. On the commodity side, we
lost forty nine cents on oil fifty eight twenty eight
at barrel.
Speaker 1 (11:16):
Mister got another strong day in gold.
Speaker 2 (11:17):
Hopefully I'll mention a little bit more on that one
four thousand and three ninety one excuse four four thousand
and two oh four eighty announced and up two basis
points on the tenure or two yield of four to five.
Speaker 1 (11:29):
All right, it's talked about some of these movers.
Speaker 2 (11:31):
First of all, let's let's chat about goal because so
many people are going, is this thing ever going to stop?
Speaker 1 (11:35):
And there are reasons why the strength is there.
Speaker 4 (11:37):
Yeah, I mean today was text book lower interest rates?
What should work on lower interest rate days? Right?
Speaker 3 (11:44):
You had small caps up one percent.
Speaker 4 (11:47):
Sectors that outperformed were real estate, utilities, technology, Gold was higher,
You saw a currency moved. I mean, so today was
very much explained by the fact that rates continue to
signal a clear concern of deceleration in the economy that
would be met by the Fed cutting rates to help
(12:10):
offset it. Right, And you know, if the China narrative
can calm some that could help on other fronts as well.
But you know, good numbers out of the banks. The
steepening yield curve is going to continue to be favorable
for banks into the future. So that's really what today
was was more so just a focus of maybe a
(12:31):
more rate stimulative economy on the back of some slowing
data clearly jobs. The two parties are seemed to be
in no hurry to come.
Speaker 3 (12:41):
To amends around the.
Speaker 4 (12:44):
Government being shut whatever that means right now, you know,
But it's a rate market. That's the thing that the
market's focusing on because it doesn't really have data. Right,
there's no CPI we were supposed to get today or
some of the other economic case. Yeah, let's hope, right, yeah,
(13:05):
good good. I'm excited to see it. And I think
they kicked it to like mid to late October for CPI,
But yeah, I think that's really that I'd say today,
I would say interest rates were the dominating theme.
Speaker 2 (13:17):
Absolutely, and and and again the dollar movement of course
having an impact. Even Scott Pssent, the Treasure Secretary, on
that CNBC interview this morning we're touching on the beginning
of the show, he was talking very favorable about moving
the dollar and how that's favorable for gold and stuff
like that. So sure, yeah, we will, we will continue
to see but it's it's mind boggling. It is really
mind boggling. Let's talk some semiconductors. We had a big
(13:39):
move and ASML twenty six dollars sixty three cent game
two point seventy one percent. Stock closed at one thousand
nine dollars and eighty one cents. They reported some very
strong bookings in its third quarter. Again, they're in the
chip making equipment manufacturing sector of the market. AMD jay,
Remember when no one would touch am D It's like
(14:00):
it was all about Intel.
Speaker 1 (14:01):
I was thinking about that.
Speaker 2 (14:01):
This is where the news came out, like, yeah, you
couldn't pay somebody to buy AMD stock.
Speaker 1 (14:06):
And now here it is two hundred and thirty.
Speaker 2 (14:08):
Eight dollars and sixty cents, up nine point four percent
today to two thirty eight sixty the Semiconductor Index, the
Philly Semiconductor indexcept three percent today. You know, just have
a semiconductor in your name and it seems like everyone
wants to buy you.
Speaker 1 (14:21):
It's it's just incredible.
Speaker 3 (14:22):
Amen, Amen, what's that moving things over.
Speaker 1 (14:25):
The communications sector?
Speaker 2 (14:26):
Great move today in alphabet to Google of course, five
dollars and fifty two cents to fifty one seventy one
Meta eight dollars ninety cent, game seven, seventeen fifty, so
on and so forth. So you already went over the sector.
So overall, you know, again, this train just keeps plowing away.
And it was amazing, folks. You know, you're hard at
work at the job. And Jason, I said here and
we watched these trades going on, and boy, the bears
(14:50):
they keep trying to come out of hibernation.
Speaker 1 (14:52):
That's the best thing I can say.
Speaker 2 (14:53):
They'll try to drive this market down and where you go, okay,
coming almost like Friday, right Jay, it was like where
you had finally everything unravel about last Friday. But they
keep trying to do that this week, and so they
get it down. It looks like okay, here we go
on the downside, and then here come the bulls and
they start bidding this thing up. These algorithms are just man,
it's so hard to predict. I mean, I know that's
(15:15):
kind of your old world and stuff, that the quant
trading and stuff, but boy, it can be really frustrated
if you were a day treader right now trying to
figure out because again it sets up for a fall
in the boom comes back or it's running up and
then also boom, here comes the selloff, right.
Speaker 4 (15:29):
Yeah, And it's just it's flow of funds too, right.
It's just a function that there's more buyers than sellers
right now. And that seems simplistic, but it's true. And
you've got to follow the money you've got. As earnings
go away, these banks will become buyers of their own shares, right,
that's seasonality. You're getting into the best six months of
the year here end of October, right, and people who
(15:52):
got bearish and we're worried about the market going down,
given that September August tend to be bad times of
the year, really didn't get much, will pull back to
buy into and then they're forced to chase. And that's
what you're starting to see now. And that's only going
to continue to accelerate. If the market goes higher, the
buyers are higher. And that's how this tape's going to be.
Speaker 1 (16:12):
Love it great summary.
Speaker 2 (16:13):
I want to bring some news going out in the
after hours right now. Just came out regarding sales Force.
Stock is moving very nice on the after hours. That's
remember this is a Dow component right now, Let's tell
you what it did the regular session, down three dollars
and nineteen cents one point three to three percent loss
to two thirty six fifty eight coming across the tapes
right now. Stocks up nine dollars and thirty nine cents
three point nine seven percent to two forty five ninety seven.
(16:36):
The company just said they now expect over sixty billion
dollars in twenty thirty. I believe that would be in
the revenue side of things. That's well above the fifty
eight point three to seven billion consensus among Wall Street.
I mean, that's going pretty far out in twenty thirty.
But the guidance excludes impact from eight billion dollars pending
(16:59):
acquisition of a data management company, so on and so forth.
So it looks like Mark Binnioff is out there on
stage doing a song and dance, and you know, investors
like what they're hearing so far, because remember folks, this
the stock is down about twenty nine percent year today,
or you got the NASDA cup you know, roughly seventeen percent.
So it has definitely been an underperformer. And uh, I'm
(17:20):
surprised you haven't. Have you ever looked at have you
ever used salesforce in any of the firms You've.
Speaker 3 (17:26):
Been with No, No, I haven't. I mean I know
of firms that use it for sure, but.
Speaker 1 (17:32):
Yeah, they do.
Speaker 2 (17:32):
You know, I tried it a few times and I
just I don't know. It's a it's a beast of
a program. I mean that positively. It just does so much.
But you know, they just keep rein vinning. And I
think they announced the other day. You know, they're laying
off a pretty good chunk of people and because of AI,
and they're they're obviously getting huge into the AI. And remember,
(17:52):
if you don't know what Salesforce is, they're a CRM
or customer relation management software that every business needs a CRM.
It seems like this is where you keep your clients data,
but you can mine it for all kinds of information.
It's it's a critical aspect of just about any business.
And they're you know, they're a huge market if not
the market leader, they're right up there at the top.
So it's interesting to see if that stuck continues to
(18:13):
bid up in the after hour session. All Right, you
are now up to day on what happened to the market,
what's going on in the after hours. Now, let's get
back to again what we're gonna be talking about when
we come back, seven steps to protect your family assets. Right,
you got to think about these. You're spending all these
hard days, working all these years. Let's give you some
strategies to protect them. We've got them for you. Start
it over to Jack Saban. First of all, he's got
(18:34):
news trafficking weather. Hello, Jack, Welcome back to the John
Sanchez Show on this Talk seven eighty k which with
Jason gott once again. We finished down seventeen on the Dow,
rose on the NASDAC, and I had twenty seven point
gain on the S and P five hundred. All right,
we're gonna shift you from the growth mode of your
life to now the asset protection side of things. Like
I said at the beginning of the show, we're gonna
(18:55):
share with you what we feel are seven powerful asset
protection strategies every families should know to safeguard their home,
their investments, from lawsuits, from creditors, et cetera. And I guess,
most importantly, Jason, from life's unexpected, which none of us
can obviously predict when that's going to happen, but we've
all either had it happen to ourselves or seen people
(19:19):
you know, that's impacted.
Speaker 1 (19:20):
So there's only so much you can do.
Speaker 2 (19:22):
But I think we got, like I said, seven very
powerful strategies to do with it. So let's get the
ball roll in, my friend. Let's talk a little bit
about some of the basics of a state planning, i e.
The creation of a revocable trust. What the heck is it?
Why is this an asset protection strategy?
Speaker 5 (19:34):
Yeah?
Speaker 4 (19:34):
I mean this is the cornerstone of any estate plan, right.
This gives us the ability to really delineate assets that
are not held inside of an IRA, but you know,
homes and taxable assets. You can really get a good
path for your beneficiaries after you're gone.
Speaker 3 (19:56):
More often than not, these are set up to make.
Speaker 4 (19:59):
Your end of life plans nice and cut and dry
for your beneficiaries. Instead of probate costs and fees and confusion,
you create a family trust. Your assets are held inside
that family trust, just keeping it so there's lots of
complex trust, but overall, a revocable living trust that allows
you to designate beneficiaries allows you to have a nice
(20:22):
document that's immutable that will survive long after you're gone
for your beneficiaries and folks to take your assets and
do with them as you would like versus a will
that buy and large, as we've explained before, is a
letter of instruction to a probate judge, and people can
come and wave their hand and say, hey, some of
(20:44):
those assets are mine versus where if they're in a trust.
Speaker 3 (20:47):
There's a lot of.
Speaker 4 (20:51):
Comfort in knowing that your wants and needs and desires
will be carried through after you're gone. And that's what
a revocable living trust does. Recommend them all the time,
and they're simple to do. They take a little bit
of thought, but overall that's really just the start of
the building block, for sure, it really is.
Speaker 2 (21:10):
Yeah, it's one of the misconceptions, Jason, that people have
is that there's lawsuit protection when they have a living trust,
and that's not the case. Right, you hit it right
on the head. But again, it's probate avoidance. It's laying
out your life while you're still alive after you are gone, right,
And none of us, none of us want to be
(21:32):
able to put that burden on our spouse or on
our family saying geez, what did dad want to have
happened with this amount of money or this account or
what was his favorite charity. But you know, folks, two misconceptions.
Then we'll move under our second point, and that is
number one. I need to be wealthy to have a
living trust. That is not the case most of the state
of planning. Most estate planning attorneys will recommend if you
(21:53):
have twenty thousand dollars or more of assets, you need
a living trust, not a will, but a living trust. Okay,
So the other misconception, people go, oh, geez, you know,
maybe I don't have that well. Factor in life insurance proceeds.
Even though we receive life insurance proceeds, if we're a
beneficiary tax free, it's still counted in the aggregate value
of your state. So you may not have much. Maybe
(22:14):
you're a young person starting out, but yeah, you know,
you bought a three hundred thousand dollars term policy through
your employer for twenty bucks a month. Guess what whoever's
going to get that money? That could be a problem, right,
or if you're going to inherit that money if you're
a beneficiary, that could throw you into you know, immediate
estate planning needs. So there's this, and we'll do more
shows on this coming up very soon. But just remember
(22:35):
a living trust is one of the very best things
that you can ever ever do. And like I said,
we're going to go into much more detail here in
a few weeks on that. But Jason, you mentioned one thing.
I want to throw this out one more time, the
privacy side of things. You know no one besides you
don't want the government and judges and attorneys taking your hard,
hard earned assets, which you know will happen and which
(22:59):
could happen, I should say, if you don't have a
living trust. But also it's the privacy issue right if
you if your state goes to probate, that's an open
public forum. People can walk in off the street and go, hey,
what did Jason Gaunt have?
Speaker 1 (23:12):
You know?
Speaker 2 (23:12):
I heard that dude on the radiobdi it was a
rich son of a guy. Let me hear what he had.
Can't do that. When you have a revocable trust, it's
all private, right because there is no probate and so
on and so forth. So those of you that like
your privacy, which I know a lot of you do,
that's just one of the many, many reasons. And then
we throw in things like medical directives. You know, I
know Jason very well is my best friend in the world.
(23:34):
But I don't know your life, I don't know your wishes.
Right If I was your child and you're like, holy moly,
you know I blessing in the world. I wanted to
be left on life support. No one knows that, right.
But if you have a living trust, you have what's
called the medical directive.
Speaker 1 (23:46):
Same thing on there.
Speaker 2 (23:47):
Tell real quickly, Jason, what we how we deal with
the living trust in our office. When it comes to
the power of attorney, the financial power of attorney.
Speaker 4 (23:53):
It must have too where you can utilize that for spouses.
If one of your spouses is you know, in opacitated
or unable to act.
Speaker 3 (24:02):
If you don't have that in place, you're in a
tough spot.
Speaker 4 (24:04):
Whereas most trusts, as you're setting them up, power of
attorney or included in those documents as well.
Speaker 2 (24:11):
That's right, absolutely, So Again the list is a mile long.
Just consider this as one of the key asset protection strategies. Again,
want avoid you you know, there's no asset protection from
a lawsuit, but asset protection as far as passing your
wealth onto the people that you wanted to go to
or charities, et cetera. So I I said we'll go
in much more detail here in a few weeks as
we're putting together a great program on this. All right,
(24:33):
let's go to number two. You need to establish an
LLC or a family family limited partnership. I'm going to
kind of push aside the family limited partnership or FLP
because we could do an entire show on that's a
very complicated area.
Speaker 1 (24:45):
But the LLC.
Speaker 2 (24:46):
Those of you that I listened to us for years,
you know how much of a proponent we are of
an LLC. And the best way I can tell you
about this is this, anything that you do in your
life that has risk, you want to get it out
of your overall estate. And the best analogy I always
tell people is visualize a big circle. Right, that's your
entire estate. And let's say your state's worth a million dollars.
But let's say you have a rental. Right, Well, if
(25:08):
you don't have an LLC, that rental is in that
big circle, meaning if you got sued by your tenant
on that on that rental, Let's say you decide to
go play electrician and replace the outlet in the rental
and little Johnny, you know, plugs his toy into it.
And gets electrocuted and dies. You know you're gonna have
a lawsuit on your heads. Well, guess what first thing
an attorney's going to do, folks. They're going to do
an asset search on you. Number one, you have to
(25:30):
list all of your assets. Number two, they'll do their
own search, and with today's technology, you can find out
what anybody owns. So attorney's going to come to you
and go, hey, guess what, Jason, I see you have
a net worth of a million plus dollars and oh
this rental where my you know, Tennis child just died.
Guess what that's inside this big circle meaning it's you know,
essentially co mingled with all of your other assets. Guess what, Jason,
(25:53):
Not only am I going to sue you for that
rental for my client, I'm going to go after all
of your other assets. And there's nothing you can do
unless you have a really good attorney to fight that.
So how do we do it? Really simple? We are
so fortunate to live in a state that makes setting
up an LLC to a very very simple process. I
mean we can set it up in what an hour?
I mean, if that as fast as we can go
(26:14):
through the baby board, It's very simple to set up
an LLC. So anything such as this rental example, you
want to hold that in an LLC, same scenario happens,
the lawsuit gives what Now that attorney can only go
after that rental in this example, Right, if you lose, okay,
big deal. At least they can't come after your big
circle where your bank accounts are and so on and
so forth. That's just a very very simple explanation of it.
(26:37):
But bottom line, the LLC shields you from personal liability.
How we help our clients Besides on the real estate side,
we have a lot of clients that will retire and
then go, eh, you know what, it's not really what
I want.
Speaker 1 (26:48):
My company just offered me to come back as a consultant.
Speaker 2 (26:51):
So what Jason and I will do will help them
set up an LLC for this new consulting business. They
then get paid as a ten ninety nine employee by
their former employer that now opened up all kinds of
tax deductions to them. We can set up a retirement
plan for them, We can do all kinds of things
on top of again asset protection. I mean, I personally,
I don't know, Bailey, how many I've lost track. To
(27:14):
be honest, there's like.
Speaker 3 (27:15):
A memory is greater than five, Yeah.
Speaker 2 (27:17):
Greatly, let's say greater than five. And so it's just
an absolute must. And again our state makes it very simple.
It's not expensive, you know, seven hundred and fifty bucks
or so to set one up yourself or hire an
attorney to do it a little bit more money, but
it is an absolute must and one of the most
simplistic but powerful asset protection strategies in my opinion. Let's
(27:37):
go to something else. The office deals with a lot Jason.
The proper titling and beneficiary designation.
Speaker 4 (27:43):
Absolutely, and this is something that we go through with
our account reviews. We put all the beneficiaries in front
of our clients each time they meet with us to
make sure that everything is in line with their desires.
But yeah, I mean having primary beneficiaries on assets, having
contingent beneficiaries on assets. A transfer on death helps you
with individual accounts. If you haven't yet set up that
(28:06):
trust and yet still want something to go around probate,
a TOD will do that for you.
Speaker 3 (28:11):
Joint tendancy.
Speaker 4 (28:13):
We're a community property state, so there's some nuances around that.
So reviewing and making sure that the beneficiaries and or
other titles for your accounts are set up correctly is
paramount for sure, and that's something that you should be
reviewing yourself or with your advisor as often as you can.
Speaker 2 (28:32):
Absolutely, absolutely, and again as we get into the end
of the year, we start going through end of the
year checklists and things like that. That's one thing we
always remind the clients of is review your beneficiaries, your
life insurance, you're obviously your iras, your four to one
K work, anything that you have that you have a
beneficiary designation. It's a great time to do that because
lasting again kind of like a state planning, last thing
(28:53):
you want is your money upon your passing to go
to someone or somewhere that you didn't intend it to.
And where we see a big problem is when you
get a divorce, right you forget to remove that ex
husband or that ex wife from your four win K
beneficiary designation form or your IRA.
Speaker 1 (29:08):
And you know then you pass it. Guess what we
have to week?
Speaker 4 (29:12):
Do you have to wait till after your divorced or
they' just time to be removed. Just as a little
tip for anyone out there who's thinking about following your
divorce decree.
Speaker 2 (29:21):
Follow your divorce decree, bottom line. All right, next one
we're gonna cover when we come back. And this is
another great thing about being a resident of the state
of Nevada, and that is this thing called a homestead exemption. Jason,
if I could tell you that you could shelter six
hundred and five thousand dollars of equity for oh it's
call it fifteen twenty five bucks somewhere around there, you think.
Speaker 1 (29:40):
That's a pretty good deal.
Speaker 3 (29:41):
I think it's awesome, absolutely very good.
Speaker 2 (29:43):
We'll tell you about it in a moment, what we're
talking about with a homestead exemption. Turning over to Christmastowe
to wrapping us up in the right own traffic center. Hello, Kristen,
welcome back to the John Sanchez Show on this Talk
seven to eighty koh All right, as usual, I think
we're gonna run out of time to get through our
seven steps to family Asset Protection. If you'd like a
copy of this, just send an email to our marketing
(30:04):
director Bailey at Sanchez Gaunt dot com ga U n
T and she'll forward this list on over to you.
All right, so we've talked about number one, create a
revocable trust. Number two, established an LLC or a family
limited partnership for at risk assets. Number three Jason's touched
on the proper titling and beneficiary designation.
Speaker 1 (30:22):
And number four.
Speaker 2 (30:23):
All right, so I tease Jason, I said, Jason, for
you know, fifteen bucks. If I said, I, you know,
pay me fifteen I'm going to protect six hundred and
five thousand dollars of an asset.
Speaker 1 (30:32):
Sound like a good deal, and becau us of course.
Speaker 2 (30:34):
Well, what we're talking about, of course, is again this
is one of the great things about being a Nevada resident.
It's called the Nevada homestead exemption. And what is it. Well,
many of you when you bought your home, you probably
were told by an escrow company or you got a
lovely email advertising, hey, we can do this for you
for you know, one hundred hundred and fifty dollars.
Speaker 1 (30:51):
No, no, no, no, no, you know need to do that.
Speaker 2 (30:53):
Go to the website of our friends over at Washo
County Recorder, download a homestead exemption form. File it immediately.
Speaker 1 (30:59):
Now, what is it?
Speaker 2 (31:00):
Homestead exemption in the state of Nevada, and it varies
this amount. I'm going to share with you various from
state to state. So I'm just going to talk Nevada
will protect the equity in your home up to six
hundred and five thousand dollars. I mean, Jason, when I
started talking about these, it was like two or three
hundred thousand.
Speaker 1 (31:16):
It just keeps going up.
Speaker 2 (31:17):
Six hundred and five thousand dollars of the equity in
your home will be protected from creditors other than the irs.
They're the only ones that can pierce this. So again,
back to the lawsuit. You get sued on something, first
thing that attorney does, They're going to go after your
house if you don't have it protected with a homestead exemption.
You have that homestead exemption even if you have more
than six hundred and five thousand inequity. Many times attorneys
(31:38):
that I've talked to they won't even mess with it's
too complicated. What does it cost Jason to file a
homestead exemption with the Washill County Recorder?
Speaker 3 (31:46):
Fourteen dollars or.
Speaker 2 (31:47):
Fourteen I'm sorry, h proy somethime went down the pot.
There you go, fourteen dollars. It literally is that simple, folks.
It will again go on your title or on your
on your title. Very very simple process. Little trick I
want to share with everybody is if you file your
homestead exemption, get it on there so when you get
your living trust created you want to do it, then
(32:10):
you know if you have never done it. A lot
of times many attorneys will get make sure that gets
done when you do your your living trust. But here's
a problem many people are not aware of, and that
is this if you get a new loan on your house,
so let's say it's a refinance or whatever the case is,
or you go from your current titling, single or joint
tenants to your trust, many times that if you had
(32:34):
the homestead exemption, it will fall off, especially in the
in the refinance. I see that over and over again.
I've seen goods grow. Companies will tell the client, hey,
your homestead exemption fell off, go file a new one.
I've seen that many times where people Jason have been
you know, hey, I filed my homestead exemption.
Speaker 1 (32:50):
When I ask him years ago, I go you ever
a refinance your house?
Speaker 2 (32:53):
Oh yeah, A couple of times and we'll pull it
up on the Canary Recorders website and they don't have it.
Why because it falls off when you get that new loan,
and so remember you can only have it on when
it can only be on your primary residence. But if
anything changes on your loan, again, great to go back
and refile, pay the fourteen bucks and get it back
on there. And just remember, folks, this is one of
(33:14):
the simplest things you can do from an asset protection standpoint. Again,
spend fourteen bucks and be able to protect up to
six hundred and five thousand of your equity and.
Speaker 1 (33:22):
Also really wrap us up good.
Speaker 3 (33:24):
Yeah, I just want to put it along the recorder line.
Speaker 4 (33:27):
I'm sure people have seen those commercials about oh my gosh,
they're going to steal the deed to your house and
create all this debts. So in Washoe County, you can
swing by our office. We're ninety one sixty Double Diamond
Parkway right across from the DMV. I've got QR codes
that you literally just click on to register with Washoe
County and they'll text you anytime anything changes on your
(33:49):
specific deed. It's awesome to have, so if you have
any concern about it, you can reach out to them
directly or like I said, swing by our office. We've
got a whole stack of these that they gave to
me directly when I did my homestead nobody a year ago.
Speaker 2 (34:02):
So love it, love it all right, we only got
about thirty seconds left. Umbrella insurance, right, we touched on that.
Talk to your You need to have your autos and
your home insured by the same insurance company in most cases.
So if you have that, go talk to your insurance agent,
have them run you a quote. You buy it a
million dollar increments. The amount is based upon you how
risky your life is, so on and so forth. But
(34:24):
again it's the best form of insurance in my opinion
that a person could get. Again, so very very affordable,
three or four hundred bucks per million. And again it
protects above and beyond your auto in your home policy.
So crazy things in life. You know, many of your skiers,
let's say you crash and you crash somebody into a
tree and they die. Auto a home is not going
to cover it. That's where your umbrella could step in.
Just these Again, that's where the term umbrella comes from.
(34:46):
It covers over your auto in your home.
Speaker 1 (34:49):
Also.
Speaker 2 (34:50):
You know, most people, Jason, have what three hundred thousand
dollars liability on their insurance. You know a three hundred
thousand dollars lawsuits nothing anymore. Use it's multi million. Your
insurance carrier writes to check for three hundred thousand. Y're
on your own for legal representation, et cetera. Umbrella they
send them their attorneys, they write the check if they
lose the case.
Speaker 1 (35:08):
So one of the very best things you can do.
That was a lot of fun.
Speaker 2 (35:12):
I wish we could have got through the rest of
the list, but again, send an email Bailey at Sanchez
dot com, shook get that list over to you. Great job,
my friend. We'll do it again tomorrow on The John
Sanchez Show up lists.
Speaker 5 (35:20):
John Sanchez is a registered investment advisor, and the opinions
expressed by Sanchez Gone Capital Management, LLC on the show
or their own and do not reflect the opinions of
News Talks seven eighty or its pairing company, Cumulus Media.
All statements and opinions expressed are based upon information considered reliable,
although it should not be relied upon. As such, any
(35:40):
statements or opinions are subject to change without notice. Information
presented is for educational purposes on the end. Does not
intend to make an offer or solicitation for the sale
or purchase of any specific securities, investments, or investment strategies.
Investments involve risk, and, unless otherwise stated or not guaranteed.
Informationation Express does not take into account your specific situation
(36:03):
or objectives, and is not intended as recommendations appropriate for
any individual. Listeners are encouraged to seek advice from a
qualified tax, legal, or investment advisor to determine whether any
information presented may be suitable for their specific situation. Past
performance is not indicative of future performance
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