Wealth and Law

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. For more than a decade, Ken has helped wealthy families and institutions make the most of their financial opportunities. Before rejoining Merrill Lynch Wealth Management in 2013, Ken worked as a Financial Analyst on Wall Street, an Assurance and Advisory Specialist at Deloitte and Touche, and in senior leadership at Canyon Ranch. You can find Ken at https://fa.ml.com/california/san-diego/ken_morris/, and can contact him at (858) 677-1326. 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 and Rachel sit down with Kim Paskal to discuss how a step-up in basis at death can be used advantageously in partnerships and S-corps. Learn more about how to make a 754 Election and the tax benefits that can ensue. Kim Paskal is the Chief Operating Officer of the Tax Department and Shareholder for BeachFleischman PC. She has been in public accounting since 1994 and is a Certified Public Accountant licensed to practice in Arizona. Her specialties include tax-planning, consulting, and compliance for entrepreneurial businesses and high net worth individuals. Learn more about Kim at https://beachfleischman.com/about/leadership-team/kim-d-paskal/. Kim can be contacted at kpaskal@beachfleischman.com.

Brent and Rachel chat with Allison Duffy, the President and CEO of Silverado Technologies, about transitioning to a distributed workforce in the age of COVID-19 and how technology can ease the burdens on employers and employees. They discuss security concerns, training, and how to maintain a workplace culture while working from home. Allison Duffy is President and Owner of Silverado Technologies. Silverado Technologies is the leading IT consulting company in Southern Arizona, providing outsourced IT services for businesses throughout the region. Silverado specializes in network infrastructure management and cybersecurity risk mitigation. Allison received her Bachelor’s degree from Loyola University Maryland and her MBA from Eller College of Management at the University of Arizona. Allison was also named the 2019 40 Under 40 Woman of the Year. Allison can be contacted by phone at (520) 903-1580 or at aduffy@silveradotech.com. Or check out Silverado Technologies at https://silveradotech.com/.

Brent and Rachel speak with the wonderful Nicole Harrigan about significant changes to the retirement account rules, the rules relating to qualified improvement property, and net operating loss rules in the CARES Act. They also talk about the 2020 accounting season, tax preparation software, and showing their children scary movies, among other things. Nicole is a partner of the CPA firm Reiger Carr & Monroe, LLP, in Tucson, Arizona. Nicole specializes in the areas of individual, partnership and corporate taxation, she is also skilled in services for small businesses, including management consulting, accounting, and bookkeeping. As a certified QuickBooks ProAdvisor, Nicole is able to also assist with the implementation and troubleshooting of QuickBooks files. Working closely with clients, personal service is very important to Nicole. Heading up our tax department, Nicole is instrumental in our success during our busy tax season. She has mentored many of our younger staff and played a significant role in their success in the industry. Nicole can be be contacted https://rcmtucson.com/ourPartners/nicole-t-simpson/, by phone 520.624.8229, or email nharrigan@rcmllp.com.

Brent and Rachel are joined by Doug Nelson, CPA, PFS, to discuss the challenges, strategies, and opportunities of financial planning during COVD-19. We get into how to plan, what makes a good financial plan, tax saving moves, the Pepsi Challenge, and more. Doug Nelson 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/.

With everything that is happening in the wake of the killing of George Floyd, we want to make clear the Wealth and Law Podcast stance: Racism is wrong in all of its forms (direct or indirect)Racism exists in our society and should never be toleratedWhite privilege exists in our society and it supports racism in direct and indirect waysBy listening to, learning from, and following the lead of wise leaders in the Black community, we can overcome racism and change our society to become fair and just If you are interested in this topic, and learning about some of the social and thought leaders, please follow (among others, and in no particular order): A. Kat Stafford (@kat_stafford), https://www.katreasestafford.com/ B. Aaron Ross Coleman (@arcwrites), https://www.thenation.com/authors/aaron-coleman/, https://nextcity.org/daily/author/aaron-ross-coleman, https://www.gq.com/contributor/aaron-ross-coleman C. Paul Butler (@LawProfButler), https://www.law.georgetown.edu/faculty/paul-butler/ D. Crystal Feimster (@cfeimster), https://afamstudies.yale.edu/people/crystal-feimster If you are interested in donating to racial justice causes, here is a list for your consideration (again, among others, and in no particular order): i. George Floyd Memorial Fund, https://www.gofundme.com/f/georgefloyd ii. NAACP Legal Defense Fund, https://www.naacpldf.org/ iii. Minnesota Freedom Fund, https://minnesotafreedomfund.org/ iv. BOLD, https://boldorganizing.org/ v. Dignity and Power Now, dignityandpowernow.org vi. Reclaim the Block list, https://docs.google.com/document/d/1yLWGTQIe3967hdc9RSxBq5s6KKZHe-3_mWp5oemd7OA/preview?pru=AAABcpUiX3k%2AY6Q4I6UBtkH3lLz9GVLg0A

Want to know what happens after a loved one dies? Brent and Rachel are joined by Kristin Yokomoto to discuss just that–from an estate planning perspective. They cover the probate process, dealing with creditors, tax issues, and trusts. Kristin Yokomoto is a partner in the law firm Albrecht & Barney, in Irvine, California. She is a Certified Specialist in Estate Planning, Trust and Probate Law by the State Bar of California Board of Legal Specialization. Her practice focuses on estate planning, trust administration, and probate. Kristin has been practicing for over twenty years and has a background in business litigation, venture capital transactions, and mergers and acquisitions. Find out more about her here: https://albrechtbarney.com/attorneys/ If you are enjoying the podcast please SUBSCRIBE and if you want to learn more about Brent and Rachel go to https://wealthandlaw.com/team/

We continue our conversation with Isaac Rothschild on Asset Protection planning in Episode 10. Part 1 of that conversation was Episode 9, but the discussion was so substantive and so good that we broke it into two parts so that you could hear the whole thing. In Part 2, we get into different asset protection planning techniques and their benefits and pitfalls. Isaac is a shareholder in the law firm Mesch Clark Rothschild in Tucson, AZ ((https://www.mcrazlaw.com/attorney/isaac-d-rothschild/). His practice is focused on creditor-debtor matters, asset protection, and bankruptcy, where he helps businesses and business owners.

Isaac Rothschild joins Brent Nelson and Rachel Sass to talk about asset protection planning. The conversation was so good and so substantive that we broke it into two parts. Part 1 is Episode 9 and Part 2 will be Episode 10. We talk about the different views of asset protection planning from an estate planning and litigation perspective, bankruptcy, and transfer in fraud issues in this episode. Isaac is a shareholder in the law firm Mesch Clark Rothschild in Tucson, AZ ((https://www.mcrazlaw.com/attorney/isaac-d-rothschild/). His practice is focused on creditor-debtor matters, asset protection, and bankruptcy, where he helps businesses and business owners.

Jenna Rubin joins Brent Nelson and Rachel Sass to talk about electronic wills, differences between the Arizona and Florida electronic will statutes, how these wills work, the current limitations of electronic wills, and to prognosticate about electronic wills’ future. If you know nothing about electronic wills, you will be brought up to speed quickly. If you know all about electronic wills, then you will get some nuanced insight about how they do or do not fulfill their purpose at this time. Jenna is a partner at the law firm Gutter, Chaves, Josepher, Rubin, Forman, Fleisher, Miller P.A. in Boca Raton, Florida. She is a Harvard Law graduate, and a graduate of Northwestern University. She can be found at https://floridatax.com/lawyers/jennarubin/, and she blogs at http://home.rubinonprobatelit.com/.