Wealth and Law

Brent chats about the importance of reviewing older trusts and corporate structures. As nothing stays the same, so it is with the circumstances that give rise to these structures originally. Changes in the law and in the family business dynamics often merit a fresh look at these structures. Brent discusses common issues, helpful considerations, and ways to make changes. This material is for inform...

Brent chats about why life insurance trusts still matter, even with a historically high basic exclusion amount. He talks about their mechanics, benefits to proper structuring, and important income and transfer tax considerations. This material is for informational purposes only. The views expressed are those of the speaker as of the date noted and not necessarily of the speaker’s firm or its affil...

Brent chats about the always challenging decision of who should be your trustee. He explains the options, the pluses and minuses to each, and how the role of a trustee need not be an all or nothing decision. He proposes some creative structures in difficult cases. This material is for informational purposes only. The views expressed are those of the speaker as of the date noted and not necessarily...

Brent chats about what options might be available to avoid the application of the JCT’s Blue Book’s footnote 102. He discusses the distribution mechanisms, beneficiary deemed owned trusts, qualified subchapter s trusts, non-trust options, and charitable remainder trusts. He also talks about the unknowns of how footnote 102 will actually apply. This material is for informational purpose...

Brent chats about footnote 102 to the Joint Committee on Taxation’s Blue Book explanations of OBBBA. He explains how the JCT applies the 2/37 limitation on itemized deductions to the income distribution deduction for nongrantor trusts and estate, what that could mean, and what is still unknown. This material is for informational purposes only. The views expressed are those of the speaker as...

Brent chats with Clay McKenna about how SLAT (Spousal Lifetime Access Trust) planning can be dangerous without precautions. They talk about reciprocal trust issues, community and marital property, and suggest taking a measured approach before jumping into the SLAT pool. Clay is a Wealth Adviser and Executive Director in the Houston, Texas office of J.P. Morgan Private Bank. Clay earned her undergr...

Brent chats with Jennifer Lee about working with business owners to create a succession plan. They discuss some of the hurdles, ways to start the conversation, and important planning, family and tax matters to consider. Jennifer Lee is the owner and founder of Modern Wealth. Jennifer grew up in the world of financial advising by going on appointments with her father and to his office on weekends....

Brent chats with Mark Zauderer about what it means to be an attorney and to be in a profession. Mark shares how the profession has changed during his career and how it can be maintained. Brent and Mark also talk about whether they recommend people attend law school, civility, giving back, and how reputation is a valuable asset. Mark Zauderer is the author of Counsel, the Courtroom is Open, availab...

Brent chats with Gary Pattengale about how clients can use after-tax strategies to improve their investing and planning outcomes. They discuss things like Roth IRAs, utilizing losses, counseling clients on the complexity, and helping people make informed decisions. Gary Pattengale serves as a Senior Vice President, Advanced Planning Specialist and Wealth Advisor in Mesirow Wealth Management. Gary...

Brent chats with Darren Case about what planning looks like this year for ultra high net worth families. They discuss how “basic” planning is key, GST tax planning, using general powers of appointment, trust protectors, intentionally defective grantor trusts, structuring trust flexibility, family limited partnerships, and more! Darren is a shareholder in the law firm Tiffany & Bosc...

Brent chats with Daniel Yoo about the ways that AI is (and is not) changing the world of wealth management. They talk about innovations, the current state of the AI market, how AI can be used in bespoke ways, and limitations of AI that are still yet to be solved. Daniel Yoo is the founder and CEO of FinMate AI, a custom Agentic AI development platform automating back office work as well as an AI N...

Brent chats with Gray Edmondson about how debt can be a valuable tool in wealth transfers. They talk about recent tax court cases, how the AFR works, planning for cash loans, and then more complex transactions using debt to sell assets. Gray Edmondson is a Partner at Edmondson Sage Allen, PLLC  in Oxford, Mississippi. Gray practices in partnership, corporate, and individual tax planning; business...

Brent chats with Brent Bowers about how he has strategically invested in land and built his real estate business. They discuss the tactics and address important risk management techniques to improve a real estate portfolio. Brent Bowers is an investor and coach with a focus on buying and selling vacant land. As an Army Officer with over 8 years of service, Brent was spending a great deal of time a...

Brent chats with Christine Alexis Concepción about how Americans in France can strategize around the thorny international tax issues they face. They talk about investing abroad, owning real estate in France, thinking about the cross-border tax world, and planning to succeed. Christine Alexis Concepción is an international tax and estate planning attorney and partner at Concepción Global, with offi...

Brent chats with Elizabeth Garlovsky about the ways trusts can be used in prenuptial agreements and divorce. They talk about structuring the trusts, common issues, and the results divorce can have on revocable and irrevocable trusts. Elizabeth (“Lizzy”) Garlovsky represents clients in matters related to estate planning and wealth transfer, probate, and estate and trust administration. She brings o...

Brent chats about various income tax considerations that arise in estate planning and are more important now with a $15 million estate tax exemption. He talks about retirement accounts, real estate, partnership interests, and shares in corporations. This material is for informational purposes only. The views expressed are those of the speaker as of the date noted and not necessarily of the speaker...

Brent chats about portability and how it needs to fit within broader planning considerations, including income tax, estate tax, generation-skipping transfer tax, and overall structure. This material is for informational purposes only. The views expressed are those of the speaker as of the date noted and not necessarily of the speaker’s firm or its affiliates. If you are enjoying the podcast please...

Brent chats about where attorney-client privilege begins, ends, and unexpectedly disappears. This material is for informational purposes only. The views expressed are those of the speaker as of the date noted and not necessarily of the speaker’s firm or its affiliates. If you are enjoying the podcast please SUBSCRIBE and leave a REVIEW, and if you want to learn more about Brent go to  https://weal...

Brent chats about how trusts may actually be the best IRA beneficiaries now. This material is for informational purposes only. The views expressed are those of the speaker as of the date noted and not necessarily of the speaker’s firm or its affiliates. If you are enjoying the podcast please SUBSCRIBE and leave a REVIEW, and if you want to learn more about Brent go to  https://wealthandlaw.com/tea...

Brent chats about what lawyers and advisers should hear when clients ask for “simple” estate plans. This material is for informational purposes only. The views expressed are those of the speaker as of the date noted and not necessarily of the speaker’s firm or its affiliates. If you are enjoying the podcast please SUBSCRIBE and leave a REVIEW, and if you want to learn more about Brent go to  https...

Brent chats about the ways that beneficiary designations can quietly, and unintentionally, override carefully drafted documents. This material is for informational purposes only. The views expressed are those of the speaker as of the date noted and not necessarily of the speaker’s firm or its affiliates. If you are enjoying the podcast please SUBSCRIBE and leave a REVIEW, and if you want to learn...

Brent chats about why an unfunded trust is often a fixable planning gap and not an estate planning disaster. This material is for informational purposes only. The views expressed are those of the speaker as of the date noted and not necessarily of the speaker’s firm or its affiliates. If you are enjoying the podcast please SUBSCRIBE and leave a REVIEW, and if you want to learn more about Brent go...

Brent chats with Gary Fletcher about the upcoming FinCEN non-financed real estate transfer reports. The reports will make many professionals, including lawyers, subject to reporting obligations on many real estate transfers. This would reach into routine estate planning transfers. Brent and Gary discuss the details of the program, what transfers are caught in its net, and what to expect. Gary Flet...

Brent chats with Elizabeth Garlovsky about the unique challenges in representing married clients. They discuss some of the ethical considerations, including how to handle conflicts, when financial goals do not align, and ways to navigate topics like divorce. Elizabeth (“Lizzy”) Garlovsky represents clients in matters related to estate planning and wealth transfer, probate, and estate and trust adm...

Brent chats with Natalie Perry about how non-grantor trusts can be used for income tax planning. They discuss the non-grantor trust tax rules, and how these trusts can be used to same both state and federal income tax by moving liquid assets to no tax states, using charitable deductions, and stacking qualified small business stock. Natalie Perry is a partner at Harrison LLP. For more than two deca...