Brent chats about the many non-probate transfers. He explains the ownership rights, tax treatment, what happens at death, and issues during lifetime. He also explains pitfalls to plan for. In the episode, he describes joint accounts, joint tenancy with right of survivorship, beneficiary deeds, transferable on death, payable on death, and beneficiary designations.
In this episode, Brent talks about the importance of good writing. He offers tips on how to write well, and, in particular, how to edit well. He shares the importance of audience, levels of editing, and using lists. He then gives you a checklist to use in formal writing. Good writing is often a sign of good thinking. Learning this skill will help you in all types of communication.
Brent chats with Naomita Yadav about the basics of qualified terminable interest property trusts (QTIP Trusts). They explain the key features, how to use them in planning, and some important foot faults to avoid. Naomita also explains the difference between a QTIP Trust and a SLAT.
Brent chats with Chris Siegle about how to make non-grantor trusts income tax efficient. They talk about normal QTIP and Bypass Trusts, how those trusts might be made grantor trusts, what powers and authority to think about, and other planning tips.
In this episode, Brent introduces you to Intentionally Defective Grantor Trusts (IDGTs). He explains the transfer tax context, how the trust is formed, its special income tax treatment, and the planning uses for IDGTs.
Brent chats with Griffin Bridgers about how non-residents of Colorado can plan when they own real estate there. They discuss the income and capital gains treatment of the property. They also talk about how to do proper estate planning in that context. Finally, they describe the relevant federal tax issues.
Brent chats about the many different Charitable Remainder Trusts, from CRATs, CRUTs, NICRUTs, NIMCRUTs, to Flip CRUTs. He explains the taxation, typical ways they are used, and how they function. He also explains some of their technical requirements so you understand what they can and cannot do.
Brent chats about the challenge of large IRAs, especially for wealthy individuals. He discusses how to plan for estate tax on those accounts, the Secure Act changes, and the tax costs to understand. He then explains Roth conversions, when they make sense, and how traditional and Roth accounts might be stretched through a Charitable Remainder Trust.
Brent chats about the top things he is discussing with clients and projects he is working on currently. He discusses the Corporate Transparency Act, reviewing older trust documents and updating them, and reviewing older family entity documents. He talks about the merits of addressing those issues now. Then he shares projects he is working on currently, including the podcast, an Article being published in April in the Colorado Lawyer, and other articles and speaking engagement he is preparing.
Brent chats with Alicyn McLeod about all the bad tax advice circulating on social media. They talk about why it is appealing, though ultimately wrong, and what tax professionals can do to counter it.
Brent chats with Shauna A. Wekherlien (the Tax Goddess) about how to do income tax planning with the possible sunset of the Trump tax cuts in 2026. They discuss their thinking on the possibility of the sunset happening, how to view changing laws, and ways to try to have your cake and eat it too. They talk about the constant need to vigilance in tax planning and the frequency of change that makes it complex.
Brent discusses how the sunset of the estate tax exemption in 2026 will also effect non-citizen non-residents of the US significantly (NRAs). He explains how the estate tax treaties work and how the math under some of the treaties could change in 2026 in a way that makes an NRA who is currently safe from estate tax exposed to estate tax thereafter. He also gives an estate tax planning framework for US citizens, NRA's in treaty jurisdictions, and NRA's in non-treaty jurisdictions.
If you can only listen to one podcast about crypto currency in estate planning, make it this one. Brent chats with Karin Pragnley and Ross Bruch about the details. They get into how crypto has changed over time, the challenges of managing it and administering it, and specific techniques where it is useful for planning. They also give real life examples and share tips from the trenches.
Brent chats with John Stephens about how adding equities can de-risk an investment portfolio. They then talk about how that strategy can be used within the goals an investor has for their life. In the end, money is a tool to live, so they discuss how to think about using investing to support the life you want to live. They also talk about John's unique journey from practicing physician to financial adviser and how to navigate transitions successfully.
Brent chats with Ashley Francis about artificial intelligence and how it can be used in many ways to improve your business. They talk about its efficiencies, its limitations (so far), and how it can help take emotion out of difficult tasks. Ashley provides use cases and explains the current environment of AI.
Brent chats with Gary Fletcher about the now effective Corporate Transparency Act. They talk about what the act requires in 2024 for existing reporting companies, how to comply, bugs in the system, and what might be next. They give useful tips on how to understand the Act and make sure you and your clients are fully compliant.
Brent chats with John Briggs, who returns to the podcast to discuss his upcoming book, The 3.3 Rule: The New Workday Standard of Creating More by Working Less. They discuss how John has grown his team, tips on managing people to be effective operators, and how a more balances day can increase outputs.
Brent chats with Victoria Richardson about all things art and collectibles. They swap fund stories about clients' amazing collections, discuss how to properly value these items, and dig into the IRS view of taxing valuable personal property.
Brent chats with Julian Zebot about why families tend to fight. It isn't always just about money. They explore the common reasons for fights, how to resolve them, and typical procedures when courts are involved.
Brent discusses some of the hottest topics in tax and trust planning. He talks about oral arguments before the US Supreme Court in the Moore case, Senator Wyden's proposed (again) billionaire tax, and trust planning options in light of higher interest rates. He also dispels a few urban legends relating to guessing about other people's tax, not taking what others do as what you should do, and how to see things with fresh eyes.
Brent discusses passive foreign investment companies (PFICs). He explains what they are, how they can appear in surprising places, their complex taxation, and gives tactical ideas about how to deal with these assets.
This is a throw-back to a past episode where Brent and Rachel Sass discuss the history, structure, mechanics, and incredible utility of trusts. They explain where trusts come from, why they are so helpful in our current system, and how they are used in estate planning.
Brent chats with Amy Vetter about using her Business, Balance & Bliss method to identify, manage, and overcome the negative effects of stress. The conversation is wide ranging and Amy provides specific insight into how these normal human challenges can help anyone--professionals and their clients. The lessons shared reach beyond professional life to give listeners a view of some of the life experience and behavior of their clients so that they can help them find success in their lives.
Brent talks about crypto and NFTs. He discusses the unique challenges of planning with these assets, including electronic asset laws, document preparation, taxation, valuation, and the fact they are bearer assets. He then discusses what he thinks the future holds, speculating about NFTs for physical things such as real estate rights, private equity, and trusts.
In an era where the digital transformation has made its mark on every industry, how does it influence the realm of estate planning? This episode delves deep into the technological integration within distributed estate planning practices – those that span across multiple jurisdictions and even internationally.
Brent chats with Jessica Goedtel about the unique challenges faced when doing financial planning for sex workers. They talk about building trust, creating a plan, managing volatile income streams. While focused on sex workers, many of the lessons relate to financial planning for any entrepreneurial individual.
Brent chats with Matt Schmidt about the causes and cures for stress in professional life. They discuss the factors that are causing you stress and how experts, and they personally, suggest taking action to reduce stress. Of course, there is no cure for stress. They point out how to therefore harness stress to make it more of a tool than a hinderance in your life.
Brent chats about the sovereign citizen movement and how federal courts reject their arguments. He provides a TikTok example of their arguments and then shares language from federal court cases showing exactly how wrong the sovereign citizens are. Short story: you don't want to be one and you definitely don't want to play one in federal court.
Brent explains how to make good intrafamily loans, especially in a volatile interest rate environment. He discusses the relevant interest rates, how the length of a loan effects the outcomes, and how to use tiered loans for even better results.
Brent chats with Brad Barrett about the essence of retirement and the art of fostering positive and prosperous relationships with money. They delve into the complexities of redefining retirement in the modern context and provide insights into the strategies for creating meaningful financial relationships. They also talk about setting goals that are meaningful.
