How to receive your inheritance & pass on wealth to your children without losing it all to tax

Hey there!

I’ve been travelling around Portugal over the last two weeks and taking in the beautiful sights, weather and food. I averaged an octopus a day, and for that, I am very grateful.

In this week’s Applied Intelligence:

1. GenAI Customer Service bots that operate over the phone are here - listen to the exchange between a human and the AI

2. What would famous rap tunes sound like if Frank Sinatra sang them?

3. [Podcast] Wealth expert, Mohammad Uz-Zaman, shares how to receive and pass on generational wealth – without the tax.

Air AI - generative AI customer service bots are here

A cutting-edge AI service, Air AI has demo’ed their #GenAI product that does sales calls and customer service interactions over the phone (yes, real-time #GenerativeAI audio). This remarkable product functions as an intelligent, well-mannered, and genuinely interested sales agent during phone conversations.

Here’s a conversation between a potential Tesla customer and the Air Ai customer service agent:

Air AI can seamlessly engage in conversations lasting between 5 to 40 minutes, supporting customers facing problems or presenting sales opportunities. What's truly mind-boggling is that Air AI's voice is indistinguishable from that of a human being.

What’s in it for you: imagine not having to wait 30+ minutes on hold to speak to your bank, airline, or government agency and get an instant answer to most of your queries! IMAGINE THE PRODUCTIVITY UNLOCK 🤑 🤩 

Frank Sinatra approves of #GenAi

Ever wondered how well Frank Sinatra would do at taking famous rap lyrics and crooning them out in his beautiful way? As a connoisseur of the Rat Pack and 90’s rap music, listening to this AI-generated version of Sinatra singing the lyrics of Coolio’s Gangsta’s Paradise was a treat.

iiimteaz

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[Podcast] Generation Wealth: Planning personal finances amid economic uncertainty (with Mohammad Uz-Zaman)

I enjoyed catching up with my dear friend Mohammad Uz-Zaman, founder of ADL Estate Planning for this fascinating podcast episode.

I’ve known Mohammad for many years, and he has helped me through financial, estate and tax planning for the various countries I’ve been a resident of over the last decade.

Mohammad Uz-Zaman brings years of experience in the financial services industry, specializing in multidisciplinary approaches to financial planning.

In this episode, he shares his invaluable insights on the importance of working with qualified professionals with expertise in various domains.

Discover why combining legal services, regulated wealth management, and tax knowledge is crucial for creating a solid financial plan - and, more specifically, why you shouldn’t take a siloed approach to planning your financial future.

Throughout the discussion, Mohammad and I explore real-life examples that demonstrate the power of effective financial planning.

From trust structures and tax mitigation strategies to the complexities of inheritance tax, we go over practical advice and actionable tips to help you navigate the intricate world of personal finance.

So, whether you're a business owner, investor, or simply looking to secure your financial future, this episode is a must-watch.

Gain a deeper understanding of the strategies to maximize wealth, protect assets, and set a solid foundation for future generations.

Full disclosure: I’m an investor of ADL Estate Planning and sit on its Board of Directors.

TL;DR

• Introduction to Mohammad Uz-Zaman and his expertise [00:00]

• The importance of multidisciplinary professionals in estate planning [04:12]

• The limitations of general accountants and the role of tax specialists [10:36]

• Unveiling the power of trusts and their benefits for future generations [18:45]

• Strategies for mitigating taxes and maximizing wealth growth [24:57]

• Real-life examples and practical insights into financial planning [32:15]

• The impact of proper financial planning on inheritance and wealth management [40:21]

• Takeaways and final thoughts on securing your financial future [47:09]

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Listen on Spotify or Apple Podcasts: