Wealth and Law

Brent chats with Doug Nelson about what has happened in the markets during the first few months of 2022, how to find the right advisors for young investors, and educating youth about starting and persisting in personal finance. Doug is an advisor and shareholder at TCI Wealth Advisors. Doug has received numerous national recognitions based upon his belief that investment success involves integrating clients’ lifestyle goals with their investment plans. During the last decade, Worth, Barron’s, and Bloomberg Magazine regularly recognized Doug’s work as one of the top independent financial advisors in the nation. You can find Doug at https://tciwealth.com/employee-directory/doug-nelson/, and you can contact him at Doug.Nelson@tciwealth.com, 520-733-1477. 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 https://wealthandlaw.com/team/.

Brent discusses the limits of Grantor Retained Annuity Trusts (GRATs). He talks about existing statutory and case law limitations on their use and the IRS view in CCA 202152018 that potentially creates additional risk for practitioners. He also offers practical solutions to plan for these limitations.

Brent talks with Gary Fletcher about Arizona’s SALT deduction workaround, how to plan for it, and the life and death of Proposition 208. They also discuss Arizona’s Proposition 208 workarounds that are still the law. Gary Fletcher is an attorney and CPA at the firm Nystedt & Fletcher, PLLC in Tucson, Arizona. Gary practices tax accounting and estate planning, and is a Fellow in the American College of Trust and Estate Counsel (ACTEC). Gary can be reached at (520) 881-3900, gfletcher@nflegal.com. 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/team/.

Brent discusses some of the highlights from the 2022 ACTEC Conference, including Build Back Better, Secure Act, Smaldino, Levine, CCA202152018, Corporate Transparency Act, and racial inequality.

Brent discusses the war in Ukraine, some of the issues and arguments that have arisen during the crisis, and how to help refugees from Ukraine and elsewhere. Resources for finding organizations helping refugees can be found at: https://www.unhcr.org/en-us/us-resettlement-partners.html https://rcusa.org/members/ https://www.charitynavigator.org/index.cfm?bay=content.view&cpid=4665#group-331 https://www.globalgiving.org/projects/ukraine-crisis-relief-fund/

Brent chats with Patricia Annino about special considerations in estate planning for women. They discuss empowering women with education, getting them involved in the planning process, and keys to success. Patricia Annino is a partner in Rimon’s Trust and Estates Group. A nationally recognized authority on estate planning and taxation, Ms. Annino has more than 30 years of experience serving the diverse needs of families, individuals, and owners of closely-held businesses. She can be found at https://www.rimonlaw.com/team/patricia-annino/. 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/team/.

Brent and Reetu Pepoff discuss racial inequities in estate planning in the United States. They talk about the root causes of the issue, the wealth and planning gap, and what advisers can do to actively combat these problems. Reetu Pepoff is an Assistant General Counsel and Senior Vice President within the Legal Department at Northern Trust Chicago. Her role includes all aspects of advising Northern’s fiduciary practice, with particular focus on avoiding conflicts of interest, supervising litigation involving Northern in its fiduciary capacity, and administering foreign and directed trusts.  Reetu also dedicates a significant portion of her time to supporting Northern’s international fiduciary practice, working with partners to administer offshore trusts and deliver fiduciary services through Northern’s affiliate in the Cayman Islands, Northern Trust Cayman International, Ltd. She is also an adjunct professor of law at the Northwestern Pritzker School of Law. She can be found at rp176@ntrs.com, and (312) 444-4977. This material is for informational purposes only. The views expressed are those of the speaker as of the date noted and not necessarily of Northern Trust or its affiliates.

Brent chats with Frazer Rice about how to preserve generational wealth. They discuss strategies for communicating with clients about money, establishing a solid plan, and things advisors can do to maximize success. As a Regional Director for Pendleton Square Trust Company, Frazer focuses on building relationships in the Northeastern United States.  Frazer is the author of “Wealth, Actually: Intelligent Decision-Making for the 1%”, and host of the “Wealth, Actually” podcast. His wealth management career has included serving for over 15 years as a Managing Director with deep fiduciary expertise at Wilmington Trust Company. While with Wilmington, he was responsible for over $11 billion of client assets under management and administration. Most recently, he has written and spoken extensively on the wealth management industry and served as a senior wealth strategist with a national RIA. Frazer can be found at https://frazerrice.com/ and on Twitter @frazerrice. 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/team/.

This week, Brent chats with Lily Styrmoe about sustainable investing and ESG (environmental, social, and corporate governance) investing. They discuss what these terms mean, changes in the market, performance of investments in this space, and ways to evaluate funds and companies from a sustainable investing perspective. Lily Styrmoe is a CFP, CSRIC, and Financial Advisor at TCI Wealth Advisors. Lily graduated Magna Cum Laude from Northern Arizona University with a degree in Environmental Studies. Her particular area of expertise is in sustainable, responsible, and impact investing. Lily enjoys aligning clients’ long term investment strategy and overarching financial plan with their core values, specifically environmental and socially responsible focused goals. You can find Lily at https://tciwealth.com/employee-directory/lily-styrmoe/ and can contact her at lily.styrmoe@tciwealth.com. 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/team/.

This week Brent discusses charitable remainder trusts. He covers how they are structured, what types of assets can be contributed (or not), how they operate, and their taxation. He also discusses different types of CRTs, from plain vanilla to Flip CRTs and net income with makeup CRTs.