Transfer Tax Planning With Regulatory Discounts
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Brent chats about how discounts abound in transfer tax planning (estate and gift tax)! Although sometimes discounts come from ownership of entities, like FLPs, that is not always the case. Charitable Remainder Trusts, Charitable Lead Trusts, Grantor Retained Annuity Trusts, Private Annuities, and Remainder Purchase Marital Trusts, all use discounts that are required in the…
When Your Will Is Not a Plan
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Brent talks about online estate and trust document services. He explains why it isn’t “planning,” the difference between these online services and actual legal services, and how they are deceptively marketed to the masses. Brent also describes the historical context for the current structure and the need for access to legal services. In a buyer…
Buy-Sell Agreements Can Preserve Generational Wealth
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Brent discusses buy-sell agreements for small or family businesses. He explains how they work, the different versions (buy-sell, cross-purchase, dual), who they should apply to, and how they can be structure for payments. These agreements help preserve generational wealth in small businesses by clearly defining the economics between owners and the owners’ families. They also…
How ChatGPT Can Change Your Business
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Brent chats with Ashley Francis about the emergence of ChatGPT and how it can improve your business. They discuss the technology, how to use ChatGPT, where they foresee it going, and whether it will replace professional service providers. They also offer practical tips on how to start integrating it into your business now.
10 Practical Ideas for Managing Assets and Planning for Estate Tax for Clients Close to the Federal Estate Tax Exemption
Managing assets and values for clients whose net worth is close to the federal estate tax exemption can be a challenge. Fortunately, there are practical ideas that you can implement to manage volatility and plan for estate tax.
How Financial Planning is Like Fly Fishing: Navigating Asset Classes with Doug Nelson
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In this episode of our podcast, “How Financial Planning is Like Fly Fishing,” Brent is joined by seasoned financial advisor Doug Nelson. Brent and Doug dive deep into how different asset classes with varying time horizons can be key components of a successful financial plan, and how being flexible with different forms of investments can…
Proven Strategies for Building a Loyal Audience Through Podcasting
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In this episode, Brent sits down with Kyla Denanyoh, the host of the successful podcast, You Are A Lawyer. Kyla shares her experience on how she built and sustained her audience while working. She provides tips on how to start and grow your own podcast, and overcome obstacles along the way. Tune in to learn…
Planning for the World Traveler: Tips for International Estate Planning
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Brent discusses the latest topics in international estate planning. As an estate planner, it is crucial to keep in mind that your clients are human, with concerns about managing incapacity and death, regardless of their citizenship or residency status. However, for world travelers, the complexity of estate planning increases significantly. Brent discusses five things to…
Optimize Your Decision Making
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Brent chats with Geoff Grenert, the founder of Cypress Strategies, about how to optimize your decision making process around personal wealth. Geoff has been working with affluent families and businesses since 1997, helping them achieve their goals and objectives. He is a nationally-recognized expert in the design and acquisition of large life insurance policies, and…
Using AI to Boost Your Business
In today’s digital age, content creation and marketing are crucial for businesses and individuals alike. However, creating relevant and engaging content can be time-consuming and challenging, especially for those who lack the necessary skills or resources. Fortunately, advances in artificial intelligence (AI) technology have made it possible to streamline this process and generate high-quality content…
Why Emotions Can Affect Your Money Decisions: Tips to Stay Financially Savvy
As much as we like to think that our money decisions are purely rational, the truth is that emotions can often come into play. Whether it’s fear, greed, or simply the desire for instant gratification, our emotions can cause us to make choices that aren’t always in our best financial interest.
Master Financial Savvy
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Join Brent and Mykail James as they discuss the art of being financially savvy. Together, they dive deep into the topic of mastering the art of being financially savvy. Mykail shares her expertise on budgeting and provides valuable insights on how to control your personal finances. Brent and Mykail also explore the psychology of money…
Maximizing Estate Plan Benefits: Why Timely Action is Key
Estate planning can be complex, but it’s an important part of managing your assets and ensuring your loved ones are taken care of when you’re gone. With the Tax Cuts and Jobs Act (TCJA) set to sunset in the coming years, now is the time to review your existing estate plans and take advantage of…
Virtual Family Offices
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Brent chats with Alex Sonkin about building and operating virtual family offices. They talk about how accountants can focus on their largest clients, provide high level planning, and leverage the unique relationships they have to growth strong family office services.
Prevent Biased Analysis
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Brent chats about bias in one’s analysis. He discusses how to spot it, gives reasons for why we all have bias in the way we analyze problems, and how to prevent it.
International Tax Planning
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Brent chats with Reetu Pepoff about the ins and outs of international tax planning for cross border estate planning clients. They discuss the different income, gift, and estate tax rules and common ways to effectively plan. Reetu Pepoff is an Assistant General Counsel and Senior Vice President within the Legal Department at Northern Trust Chicago.…
Current State of FBAR Penalties
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Brent chats with Rachel Sass about the U.S. Supreme Court case Bittner v. U.S., where the Court decided the non-willfulness penalties for FBARs is $10,000 per filing, not per account. This case changed the IRS’s long-time position. Brent and Rachel discuss the case, the reasoning, what it means for FBARs, and what they expect in…
Should You Have a Podcast?
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Brent chats about whether having a podcast is a good idea. He shares how to think about starting one, the equipment he uses, and generally gives you a how-to guide on hosting and running a podcast.
US-China Estate Planning
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Brent chats with Tony Yu about estate planning for Chinese clients. They talk about the culture, what motivates investments in the US, and special considerations from a trust and tax perspective. Tony is the owner of DSG Trust Law. He graduated cum laude from UCLA with degrees in Business–Economic, Communications, and Accounting. Tony is fluent…
Dumb TikTok Trends
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Brent discusses some of the less wise “advice” circulating on TikTok recently, including MPI (maximum premium insurance), 401(k)s as a hoax, using trusts to shelter income, and LLCs as the business deduction savior. He digs into each, breaking down how they fall short of their promises.
Alternative Uses for FLPs
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Brent chats with Rachel Sass about alternative ways to use family limited partnerships (FLPS) beyond gifting and estate tax planning. They discuss (1) preferred partnerships, (2) holding companies, (3) family business governance, (4) cross-border bridges, and (5) income tax basis planning. Rachel is an attorney at Rimon, P.C., and can be found here Rachel Sass…
Financial Planning and Fly Fishing
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Brent chats with Doug Nelson about how financial planning is just like fly fishing. They analogize the two, including picking the correct fly, preparing your gear, and how to remain flexible in changing conditions. All these tools are essential for both activities, and Brent and Doug deliver the news with plenty of laughing and cajoling.
How to Start a New Business
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Brent chats with Alex Wells about how to start your new business. They discuss key issues like (1) deciding which business to start, (2) hiring great people, (3) creating good culture, and (4) scaling through marketing and business development. Alex Wells is the Co-Founder of Imprint Digital. Over the last 13 years, Alex has been…
Marketing Keys for Professionals
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Brent chats with Ronnie Deaver about how professionals can grow their business through intentional marketing and sales. Though these aren’t skills learned in school, Ronnie explains how they can be learned, how important sales are, and scaling to meet your business goals Ronnie is CEO of NoBull Marketing, a lawyer-exclusive marketing agency that specializes in…
2022 Election Aftermath
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Now what happens? After the 2022 election split control of Congress, what’s next? Brent chats about possible tax law changes, what to anticipate, and where the most change is likely to happen before 2024.
Close the Year and Start Well
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Brent chats with Rachel Sass about how to close out 2022 and make 2023 a success. They discuss 401(k) and IRA contributions, charitable giving, loss harvesting, and talking about money and finances with family. Rachel Sass is an experienced estate and tax planning attorney in Arizona. Ms. Sass has helped clients throughout Arizona establish their…
Vacation Homes–Rewind
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This week’s episode is a rewind of a popular conversation Brent had with Rachel Sass about planning for vacation homes. With so many people traveling for the holidays, this conversation reminds of the hazards and opportunities available when leaving a vacation home to family. Rachel Sass is an experienced estate and tax planning attorney in…
Optimized Charitable Lead Trusts
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Brent chats with Jonathon Morrison about how to optimize charitable lead annuity trusts. They talk about the mechanics, running the numbers, and the many tax benefits for charitable clients. A senior partner and Best Lawyers® honoree, Jonathon Morrison’s practice is focused on tax, business and estate planning for clients with large or complex estates. Jonathon…
Finding Meaning in Profit
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Brent chats with Bessi Graham about how businesses can provide meaningful change in the world while making a profit. They discuss finding meaning, working with intention, and building teams around your vision. Bessi is the co-founder of Benefit Capital and The Difference Incubator (TDi). As an investor, entrepreneur, business owner, company director, speaker and writer,…
Smart Business Growth
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Brent chats with John Briggs about how companies can grow in a smart way. They discuss cash flow management, paying yourself, hiring, and how to build effective teams. John is the CEO and Founder of Incite Tax and the author of Profit First For Microgyms. His theme is, “The IRS Sucks”, and business owners should…
Discovering Fraud
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Brent and Tracy Coenen chat about finding fraud in businesses and divorce, helping people in difficult moments, and red flags of fraudulent financial activities.
Family Offices and Private Equity
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Brent and Dror Futter discuss the numerous challenges family offices face when investing in private equity–from lack of understanding typical terms to inadequate measures of potential investments. They suggest ways family offices can improve their PE activities for increased success.
Money and Divorce
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Brent chats with Stacy Francis about helping women make strategic money decisions after a divorce. They also chat about her charity, Savvy Ladies, that helps underprivileged women with personal finance. Brent and Stacy also focus on strategies to make wise decisions about personal wealth when going through upheaval in life. Stacy is the President and…
Energy Efficiency Tax Credits
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Brent and Randy Crabtree chat about how people can use energy efficiency tax credits that were expanded under the Inflation Reduction Act. Specifically, they focus on Sections 45L and 179D, relating to energy efficient real estate development. They also discuss developing a niche accounting practice and keeping up with frequent tax changes. Randy Crabtree is…
How to Own a Business
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Brent chats with Toby Mathis about strategies for business ownership. They cover the difference between corporations, partnerships, and sole proprietorships. They also talk about how trusts can be used to enhance owner protections in a business structure. Toby Mathis is a 25-year tax attorney and founding partner at Anderson Advisors, whose career has focused on how…
Corporate Transparency Act
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Brent chats with Gary Fletcher about the soon-to-be-effective Corporate Transparency Act. The Act requires most business entities (old and new) to report the identity of organizers and beneficial owners to the US Department of Treasury. Once the Act is effective, it will have far reaching affects on businesses in a very distinct before-and-after way. Anyone…
Where the Fleece Vests Roam
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Brent and Rachel Sass discuss Patagonia’s founder, Yvon Chouniard, giving away his interest in the company to charity. They talk about gifts to 501(c)(4)s, the income tax implications, and estate tax savings. They also speculate about how to structure transfers of this kind. Rachel Sass is an experienced estate and tax planning attorney in Arizona,…
Post-Pandemic Personal Finance
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Brent chats with Kristopher Flammang about personal finance after the pandemic. They discuss what has changed, what is the same, and how to plan moving forward. They also suggest ideas for staying on course with you money goals. Kris is a co-founder of LPF Financial Advisors. Kris has been in financial services since 1999 after…
Wise Money Moves in Troubled Times
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Brent chats with Nicholle Overkamp about how to make wise money and business decisions. They focus on creating good habits, implementing systems, and unique issues for women. Nicholle Overkamp, MBA, ChFC, CDFA, is a personal finance expert and business coach for women. She’s the Founder and CEO of Wilcox Financial Group and PowHERhouse Money Coaching.…
Getting a Good Valuation
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This week, Richard Claywell joins the podcast to discuss business valuations. He and Brent chat about the important elements to a good valuation report, how to improve value to sell a company, and ways valuations are manipulated. J. Richard Claywell, CPA, ABV, ASA, CBA, ICVS, CVA, MAFF, CFD, ABAR, CVGA, MBV, ICVS-A has built a…
Business Succession Planning
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Brent chats with Gray Edmonson about business succession planning. They discuss how to plan for a change in ownership, common options, and how to structure a successful transaction from one generation to another. Gray Edmonson is a Partner at Edmondson Sage Allen, PLLC in Oxford, Mississippi. Gray practices in partnership, corporate, and individual tax planning;…
Inflation Reduction Act
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Brent chats with Rachel Sass about the Inflation Reduction Act. They discuss the corporate minimum tax, stock buy-back tax, health insurance changes, and tax credits for EVs. They also get into extra funding for the IRS and how tax professionals are excited about it. Rachel Sass is an experienced estate and tax planning attorney in…
National Make a Will Month
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August is National Make a Will Month! Only 48% of American adults have a will, so this week, Brent chats about the need for people to make a will and resources (even some free ones) that people can take advantage of to get one. If you are enjoying the podcast please SUBSCRIBE and leave a…
Estate Planning Bootcamp: Will
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Welcome back to the Wealth and Law Estate Planning Bootcamp! In this series of five episodes, Brent is joined by guests to discuss the basics of estate planning. In this episode, T.J. Ryan chats with Brent about Wills, the oldest estate planning documents. They discuss what they are, how they work, and why they are…
Estate Planning Bootcamp: Durable Powers of Attorney
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Welcome back to the Wealth and Law Estate Planning Bootcamp! In this series of five episodes, Brent is joined by guests to discuss the basics of estate planning. In this episode, Jenna Rubin chats with Brent about durable powers of attorney for finances. They discuss what they are, how they work, and why they are…
Estate Planning Bootcamp: Health Care Powers of Attorney
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Welcome back to the Wealth and Law Estate Planning Bootcamp! In this series of five episodes, Brent is joined by guests to discuss the basics of estate planning. In this episode, Emily Kile chats with Brent about possibly the most important estate planning document: the health care power of attorney and living will. They discuss…
Estate Planning Bootcamp: Revocable Trusts
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Welcome back to the Wealth and Law Estate Planning Bootcamp! In this series of five episodes, Brent is joined by guests to discuss the basics of estate planning. In this episode, Deborah Plum chats with Brent about the revocable trusts. She answers the what, how, and why questions relating to these prevalent estate planning tools.…
Estate Planning Bootcamp: The Different Fiduciary Roles
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Welcome to the Wealth and Law Estate Planning Bootcamp! In this series of five episodes, Brent is joined by guests to discuss the basics of estate planning. First up, Rachel Sass chats with Brent about the different fiduciary roles within estate planning, how they work, what they do, and how they interact. You will learn…
Life Insurance for Foreigners
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Brent talks with Cary Stamp about the ins and outs of life insurance for non-Americans. They talk about special insurability, income tax, and estate tax considerations. They also discuss tips for structuring the ownership and investment options within life insurance. Cary Stamp is the CEO of Cary Stamp & Co. He advises high-net-worth individuals, successful…
Planning With Inflation
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Brent discusses how inflation is not a death knell to wealth transfer planning. He describes interest rate sensitive techniques, which perform better with higher interest rates, and underlying assumptions during inflationary periods that help planning. If you are enjoying the podcast please SUBSCRIBE and leave a REVIEW, and if you want to learn more about…
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