Wealth and Law

This week, Brent and Rachel chat with Rodrigo Castillo Cottin about US-Colombian cross border planning. Rodrigo explains the basics of Colombian tax and estate planning laws, gives helpful insights into key issues, and chats about how to be flexible in planning. Mr. Castillo Cottin opened the Rimon, P.C. legal practice in Colombia, Rimon’s first Latin American office, to focus on Trusts & Estates and Tax law. He advises multijurisdictional enterprises, financial institutions, and high-net-worth individuals and families on wealth management matters, international tax law, planning, and compliance, inheritance and estate planning, exchange of information, and amnesty programs.  Rodrigo can be reached at  rodrigo.castillocottin@rimonlaw.com.

This week, Brent and Rachel are joined by Anna N’Jie-Konte. Anna has decades of experience in financial planning and was the perfect person to talk to about generational wealth. As a first-generation American, Anna discusses the keys to building generational wealth. The three of them also get into wealth inequality as a by-product of generational wealth and what we can each do to help bridge the gap. Anna N’Jie-Konte is a Certified Financial Planner and the founder of Dare to Dream Financial Planning: a fee-only, virtual financial planning firm that serves the needs of women of color who want to live boldly and make a lasting impact on their family tree. She is also the host of the “First-Gen Realness” podcast. There, she engages in conversations with her fellow first-generation Americans in order to reinforce their value and immense contributions to the fabric of America. By fostering a sense of community, she hopes to remind her peers that they matter, their stories are important and they are not alone in attempting to navigate multiple cultures with grace. You can find Anna at https://www.daretodreamplanning.com/ and on LinkedIn at https://www.linkedin.com/in/annanjie/.

This week, Brent and Rachel chat about community property. They explain what it is, how it works, what its tax benefits are, and they explain how one might be able get the tax benefits of community property event for property in a non-community property State. They have previously written about community property here and you can listen to them talk about community property in the divorce context here. 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/.

The SECURE Act (remember that) has been around for one year now. To commemorate its first birthday, Brent and Rachel look back at the SECURE Act and how it has changed the landscape for designating a trust as a beneficiary on an IRA. Brent and Rachel have already written about this issue before here and have touched upon this topic in an earlier podcast episode here. But in this week’s episode, they take a deeper dive into which trusts may be the best IRA beneficiaries and how you go about doing it. They specifically look at the Secure Stretch Trust, Charitable Remainder Trusts, the Qualified Subchapter S Trust, and the Beneficiary Defective Trust. 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/.

Americans across the country were shaken up by the assault on the U.S. Capitol on January 6, 2021. On this week’s episode of the Wealth & Law Podcast, Brent and Rachel try to make sense of the whole situation by analyzing the events from a legal perspective. They discuss the events leading up to the riot, the various court cases, and hypothesize what Americans might see in the days leading up to the Presidential Inauguration. 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/.

It is probably no surprise to hear that one of the most common New Year’s Resolutions is to save money. To kick off 2021, Brent and Rachel sat down with George Grombacher to discuss how individuals can be better with money. George gives some of his best tips for getting your finances in check for the new year, how a budget can help, and whether you may need the help of a professional. George is a consultant, podcaster, writer, and speaker. He spent 10 years with a Fortune 100 company as an advisor as well as in leadership positions where he impacted thousands of people and developed training curriculums. He’s the President of Financial Consulting Professionals, the Founder and Chief Community Officer of Money Alignment Academy, and the host of the Money Savage podcast. George was also named one of the Top 100 Financial Advisors for 2019 by Investopedia. You can learn more about the Money Alignment Academy at: http://moneyalignmentacademy.com/about-us/. You can also contact George directly at: george@moneyalignmentacademy.com.

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 want to learn more about Brent and Rachel go to https://wealthandlaw.com/team/.

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 is a dynamic and proficient business consultant with over ten years of public accounting experience, delivering results across multiple industries. He leads projects involving domestic and international business structure set-up, cross-border structuring, foreign expansion planning, tax treaty analysis, foreign tax credit planning, as well as IC-DISC entity structuring, compliance and planning. He prepares, coordinates and reviews complex tax provision engagements in accordance with ASC 740 and compliance with international standards. He is adept at aligning operational business, tax, cash flow, and technology strategies with innovation and cost efficiency. Fernando is a flexible CPA who adapts seamlessly to constantly evolving laws, processes and technology. He is a recognized leader and mentor with the ability to manage large teams. Fernando is fluent in English and Spanish. Fernando can be reached at (520) 321-4600, or fbarraza@beachfleischman.com. 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/.

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 Shareholder and a member of the firm’s International and Estates & Trusts segment teams. He is a dynamic and proficient business consultant with over ten years of public accounting experience, delivering results across multiple industries. He leads projects involving domestic and international business structure set-up, cross-border structuring, foreign expansion planning, tax treaty analysis, foreign tax credit planning, as well as IC-DISC entity structuring, compliance and planning. He prepares, coordinates and reviews complex tax provision engagements in accordance with ASC 740 and compliance with international standards. He is adept at aligning operational business, tax, cash flow, and technology strategies with innovation and cost efficiency. Fernando is a flexible CPA who adapts seamlessly to constantly evolving laws, processes and technology. He is a recognized leader and mentor with the ability to manage large teams. Fernando is fluent in English and Spanish. Fernando can be reached at (520) 321-4600, or fbarraza@beachfleischman.com. 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/.

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 situations. T.J. Ryan is a trust and probate litigation and estate planning attorney at Frazer Ryan Goldberg & Arnold LLP. T.J. is a Fellow of the prestigious American College of Trust and Estate Counsel (ACTEC). He focuses his practice on personal and business planning, including estate planning, estate administration, business entity formation, and trust and probate litigation. T.J.’s contact information can be found at: https://www.frgalaw.com/attorneys/ryant. 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/.