Wealth and Law

This week Brent and Rachel give their wrap up of the podcast in 2020. They discuss key events of the year, important topics they covered, starting the podcast, and what they look forward to in 2021. It has been a long year! Thanks for listening to the podcast and engaging with us about it. We appreciate your support! If you are enjoying the podcast please SUBSCRIBE and leave a REVIEW, and if you w...

Rachel and Brent are again joined by Fernando Barraza for Part 2 of their conversation about planning for families and businesses in the US and Mexico. In Part 2 they dig into specific planning ideas to overcome some of the challenging and penalizing US international tax rules. Fernando Barraza is a Tax Shareholder and a member of the firm’s International and Estates & Trusts segment teams. He...

This week, Brent and Rachel sit down with Fernando Barraza to discuss challenges and opportunities for US-Mexico cross border families. In Part 1, they discuss the broad international tax rules that apply to these families, their businesses, and their investments. They flag key concerns and foot faults. In Part 2, they discuss practical solutions and planning options. Fernando Barraza is a Tax Sha...

This week, Brent and Rachel sit down with T.J. Ryan to discuss the use of penalty clauses in estate planning documents. The three of them explain what a penalty clause is, what they look like, and how they are used in estate planning documents. They also get into how Arizona courts have applied penalty clauses in the past and how penalty clauses might be applied in the future to particular situati...

Brent and Rachel are joined by Olivia Roberts and David Joseph of Knockout Digital Marketing to talk about marketing trends for lawyers and financial advisers, things that don’t work, and their top five things to do to improve marketing efforts. We also discuss targeted advertising, social media, and old fashion business development tools. You can learn more about Knockout Digital Marketing...

This week, Brent and Rachel are joined again by Darren Case for Part 2 of their conversation about post-election estate planning. This is a rapid fire session, where we throw ideas for end of year planning at Darren and he gives us his hot takes. We cover: SCIN GRATs Long-Term Notes Series SLATs Flip SLATs 99-Year GRATs Darren is a shareholder in the law firm Tiffany & Bosco, PA, in Phoenix, A...

This week, Brent and Rachel are joined again by Darren Case to talk about post-election estate planning. They dive into what the election results mean for end-of-year tax planning and how Arizona’s Prop. 208 affects high-income families. They also get into a fun Q&A on unique tax planning techniques. Darren is a shareholder in the law firm Tiffany & Bosco, PA, in Phoenix, AZ. He assi...

With the 2020 federal elections now completed (well, almost completed), Brent and Rachel go into their three-step plan for how to reconcile after the election and move forward. They also get into Arizona’s Proposition 207, which legalized the recreational use of marijuana, and what the post-election landscape means for the ongoing Black Lives Matter movement and the fight for racial justice....

Brent and Rachel dive into incapacity on this week’s episode of the Wealth and Law podcast. They explain what incapacity is, how Powers of Attorney can help, what happens if there was no planning (or the plan fails), and how a revocable trust provides even better protection. Incapacity is a vast subject that could be discussed for hours–but this episode will introduce the listener to t...

This week Brent and Rachel introduce family limited partnerships (FLPs). They discuss the basics, how FLPs have been used historically in planning for high net worth families, how they are treated for tax purposes, current law around FLP’s efficacy, and how to use FLPs under the current IRS attacks. The discussion is high level, and there are many nuances to FLPs not covered in this episode....

Brent and Rachel chat about how their business development options have changed due to the pandemic, how they have pivoted, and what seems to work for them. They talk in depth about the podcast, social media, and connecting with their clients and key relationships. Most importantly, they discuss what they do to make personal connections in a digital environment. If you are enjoying the podcast ple...

On this week’s episode, Brent and Rachel sit down with Samuel Deane, MBA to discuss equity compensation packages, stock options, and tying it all together with an estate plan. They particularly focus on how millennials in tech and start-up companies can navigate through various types of compensation packages and what issues to focus on when negotiating a compensation package. Samuel Deane is...

This week, Brent and Rachel sit down with Shiraz Ahmed to talk about common cross border tax issues that may arise for Americans moving to Canada, and Canadians moving to the U.S. They discuss passive foreign investment companies, retirement accounts, and more. They also highlight how a basic estate plan in one country may be treated entirely different in the other. Shiraz is a Financial Advisor a...

This week we discuss the recent New York Times article disclosing what it claims are President Trumps tax returns and tax information. Rachel and Brent peal back the onion of the tax code to break down the net operating losses, tax credits, deductions, payments, and refunds disclosed in the article. They also dig into the tax laws that apply to the positions taken in the returns. As an initial ass...

Brent and Rachel sit down with S. Victoria Kahn to discuss Nevada’s favorable trust laws. They discuss the flexibility and asset protection features of Nevada law, how there’s no state income tax, and how individuals and families are using Nevada trusts to their advantage today. Victoria leads The Whittier Trust Company of Nevada Inc.’s Reno, Nevada office, and oversees The Whittier Tr...

Brent and Rachel speak with Doug Nelson, of TCI Wealth Advisors, on this week’s episode about the expected financial picture for the final quarter of 2020. They get into depth on how people should be adjusting, or not, their financial plans and investments, what to expect from the election, and the psychology of managing difficult investment environments. Doug Nelson is a repeat guest on the...

This week, Brent and Rachel are joined by A.J. Price, CPA, CFP, to discuss how families can introduce younger generations to family wealth. They discuss the benefits of family-wide meetings, examine the many methods of family investments, and dive into the importance of goal-based investing. A.J. Price is an Associate Wealth Advisor at Strategic Wealth Partners. A.J. works with wealth advisors and...

This week’s episode is the Live recording from Friday, August 28, 2020. Rachel and Brent dive into ways to use the extra estate tax exemption that could expire at the end of 2020, and will expire absent Congressional action in 2026. They talk about Spousal Lifetime Access Trusts (SLATs), sales and gifts to Intentionally Defective Grantor Trusts (IDGTs), Grantor Retainer Annuity Trusts (GRATs...

This week Brent and Rachel are joined by Kayla Bernays to talk about what happens before, during and after a divorce and what it does to an estate plan. We get into community property, prenuptial and post-nuptial agreements, and property divisions. We also throw in some federal tax tidbits for good measure. Kayla is a partner in the Randall, Palmer & Bernays Law Firm in Tucson, Arizona. A Phoe...

This week Brent is joined by special co-host Darren Case to talk about how Covid-19 has changed estate planning and to prognosticate about the Biden Tax Plan. They dive into how to plan in the current uncertainty, what to expect with a new administration, how to structure gifts to irrevocable trusts, and how to take advantage of opportunities available in 2020 that may not last in 2021. They also...

This week’s episode is from the first ever live recording of the Wealth and Law podcast. Brent and Rachel dive into lessons that they’ve learned from their clients and go over their top ten ways on building, preserving, and passing on family wealth. If you are enjoying the podcast please SUBSCRIBE and leave a REVIEW, and if you want to learn more about Brent and Rachel go to  http...

This week Brent and Rachel are joined by Shawn Garner to talk about using revocable trusts in estate planning. We get into detail about how these important trusts work, and, specifically, how they solve for incapacity, asset management, and probate issues. We also exchange real life examples of ways these trusts are used for our clients and how they bring a tremendous amount of value. Shawn is a p...

Brent and Rachel are joined by Mykail James to discuss financial planning for Generation Z and Millennials. We have a great conversation about financial literacy at different generations and how technology can be used in teaching personal finance. We get into the distinctions between Gen Z and Millennials, technology in financial planning, tips and tricks for Fin Tech in personal finance, and so m...

Brent and Rachel are joined by Eugenie George to discuss money stories, creating a financial wellness plan, and diversity and race in the financial advising and legal industries. We get into how a woman’s background and emotional connection with money from a cultural, race, gender and economic perspective can influence her interaction with money and investments. It was a timely and deep disc...

Brent and Rachel are joined by Ken Morris, CFA, CFP, to discuss investment management, the differences between financial planning and investment management, and the benefits and pitfalls of each. We also chat about what individuals and families should be looking for when picking an investment advisor. Ken Morris is the First Vice President and Resident Director of Merrill Lynch Wealth Management....