Wealth and Law

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. Griffin is a Wealth Strategist for Mosaic. Griffin uses his 13 years of experience as a tax and estate planning attorney at small, medium, and large firms to advise and educate Mosaic’s clients and advisors on the technical and interpersonal aspects of estate planning, tax planning, and business planning. This includes simplifying complex legal structures and documents, navigating the dynamics of the team which manages a family’s wealth, analyzing the interplay between complex trusts and business entities, and implementing both cutting-edge and traditional tax and wealth transfer strategies. Griffin is also a member of the law firm Hutchins & Associates in Denver Colorado. His practice encompasses all areas of private wealth and family business. In addition to estate planning and estate administration, Griffin has specialized experience in taxation, asset protection, executive compensation, employee benefits, qualified and non-qualified retirement plans, nonprofit organizations, mergers and acquisitions, business transactions, franchising, and commercial contracts. Griffin joined Mosaic in 2022. He holds a BB.A. from the University of Memphis, a J.D. from Samford University, Cumberland School of Law and an LL.M. in Taxation from New York University School of Law. Griffin has a sub-stack that can be found here State of Estates | Griffin Bridgers | Substack Griffin can also be found here Griffin H. Bridgers – Hutchins Law Brent and Griffin wrote an article for the Colorado Lawyer in this topic that can be found here Tax and Estate Planning for Nonresident Real Estate Owners | Colorado Lawyer (cobar.org) This material is for informational purposes only. The views expressed are those of the speaker as of the date noted and not necessarily of the speaker’s firm or its affiliates. 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/. Legal Disclaimer: https://wealthandlaw.com/legal-disclaimer/

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. This material is for informational purposes only. The views expressed are those of the speaker as of the date noted and not necessarily of the speaker’s firm or its affiliates. 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/. Legal Disclaimer: https://wealthandlaw.com/legal-disclaimer/

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. This material is for informational purposes only. The views expressed are those of the speaker as of the date noted and not necessarily of the speaker’s firm or its affiliates. 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/. Legal Disclaimer: https://wealthandlaw.com/legal-disclaimer/

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. This material is for informational purposes only. The views expressed are those of the speaker as of the date noted and not necessarily of the speaker’s firm or its affiliates. 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/. Legal Disclaimer: https://wealthandlaw.com/legal-disclaimer/

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. Alicyn McLeod is a CPA, CFP® with 20+ years of tax experience. She is the co-founder and CFO of Agate CPA. She is a Georgia native and a graduate of Augusta University where she earned a Bachelors in Business Administration in Accounting and a Masters of Business Administration. Alicyn resides in the metro Atlanta area and is an active member of her local community and the financial services community through local and national groups. Alicyn can be found on Twitter @atlantatax She can also be found here: About – Agate (agatecpa.com) and here Alicyn McLeod CPA, CFP® | Atlanta Tax

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. Shauna A. Wekherlien, CPA, MTax, CTC, CTS, Tax Goddess is a highly sought-after Certified Public Accountant and founder of Tax Goddess Business Services, PC, established in 2004. Tax Goddess is a global team of 65+ specialists that uses plain language (not tax code) to help business owners, investors, and entrepreneurs create plans of action to increase the business owner’s bottom line, reduce costs, significantly reduce taxes, increase cash flow, and perform what-if scenario options so that owners know what decisions to make and which paths are best suited to their particular situation. Shauna is a Certified Public Accountant (AZ) with a master’s degree in Taxation. She is ranked in the top 1% of Tax Strategists in the entire country (per AICTC). Before starting her own company, Shauna had garnered experience and sharpened her skills working with different leading corporations such as KPMG and American Express. With over 24+ years of experience in implementing innovative tax solutions, Shauna has continued to actively create tax strategies that, so far, have saved businesses and individuals to the tune of over $523 million. Shauna can be found here: https://taxgoddess.com/tax-goddess-team/ This material is for informational purposes only. The views expressed are those of the speaker as of the date noted and not necessarily of the speaker’s firm or its affiliates. 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/. Legal Disclaimer: https://wealthandlaw.com/legal-disclaimer/

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. The math under the estate tax treaties is illustrated under the following hypothetical: If a non-resident has a worldwide estate of $8M and $1M is their condo in Miami, and the 2026 exemption is $7M, their 2026 exemption is going to be $875,000 (1/8 x 7 = .875). Today they have plenty of exemption (1/8 x 13.61 = 1.7) under the treaty. This material is for informational purposes only. The views expressed are those of the speaker as of the date noted and not necessarily of the speaker’s firm or its affiliates. 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/. Legal Disclaimer: https://wealthandlaw.com/legal-disclaimer/

Brent chats with Karin Prangley and Ross Bruch about the details of crypto currencies in estate planning. 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. Karin Prangley is a Senior Wealth Planner in the Chicago Private Banking office of Brown Brothers Harriman. She has spent her entire career advising successful individuals and business owners on the preservation of wealth. Karin’s particular expertise ranges from saving income and estate taxes on the sale of a business, to assisting clients with the achievement of their philanthropic goals, to preparing the next generation to inherit liquid wealth or a going-concern family business. Karin also serves as a valued member of her clients’ advisory teams by coordinating the legal and tax structure of her clients’ assets and family offices. Prior to joining the firm in 2014, Karin was a Partner in private legal practice at the estate planning and administration group of Krasnow Saunders LLP and an Associate in the trusts and estates groups of Arnold & Porter LLP and Winston & Strawn LLP. Karin is a fellow of the American College of Trust and Estate Counsel, an elite trusts and estates organization where admission is based on professional reputation, expertise in tax law, and contribution to the legal field. She received a B.A. (summa cum laude) from Mount St. Mary’s University and a J.D. from the University of Virginia School of Law, where she was elected to the Order of the Coif and was published in the Virginia Tax Review. Ross Bruch is a Senior Wealth Planner in the Philadelphia office of Brown Brothers Harriman, where he works with and advises successful individuals and business owners on the preservation, growth and transfer of wealth. Prior to joining the firm in 2017, Ross was in private legal practice at a large Philadelphia law firm where he focused on estate and gift tax planning, tax-exempt organizations and closely held business succession planning. In an effort to enhance his ability to help his clients and their families thrive, Ross recently obtained a master’s degree in applied positive psychology from the University of Pennsylvania. Additionally, he received his B.A. from the University of Pennsylvania, where he graduated cum laude, an LL.M. in taxation from the Temple University Beasley School of Law, and a J.D. from the University of Pennsylvania Law School. Karin can be found here Karin Prangley (bbh.com) Ross can be found here Ross Bruch (bbh.com) This material is for informational purposes only. The views expressed are those of the speaker as of the date noted and not necessarily of the speaker’s firm or its affiliates. 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/. Legal Disclaimer: https://wealthandlaw.com/legal-disclaimer/

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. John Stephens, MBA, CFA, CFP® is a Shareholder of TCI Wealth Advisers where he specializes in helping other doctors and senior level executives build and maintain their wealth, independent from their businesses, by providing the same professional quality of financial advice to his clients today as he did for his patients back when he was a physician. He can be reached at https://tciwealth.com/advisor/john-stephens/ This material is for informational purposes only. The views expressed are those of the speaker as of the date noted and not necessarily of the speaker’s firm or its affiliates. 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/. Legal Disclaimer: https://wealthandlaw.com/legal-disclaimer/

Brent chats with Ashley Francis about artificial intelligence and how it can be used 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. Ashley Francis is the owner of the Francis Group, PLLC, a CPA firm that offers sophisticated, personalized tax and accounting services tailored to your needs. Its team of highly qualified experts will guide you on an individualized journey toward preserving your assets for future generations. Whether your goal is to protect your wealth for your family or make a positive impact through charitable giving, we can help you achieve it. The Francis Group can be found here https://francisgroupsea.com/ Ashley can be found on Twitter @seattle_tax You can also subscribe to Ashley’s newsletter about AI and ChatGPT here: http://Kitchentableautomations.Substack.com This material is for informational purposes only. The views expressed are those of the speaker as of the date noted and not necessarily of the speaker’s firm or its affiliates. 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/. Legal Disclaimer: https://wealthandlaw.com/legal-disclaimer/