Wealth and Law

Welcome back to the Wealth and Law Estate Planning Bootcamp! In this series of five episodes, Brent is joined by guests to discuss the basics of estate planning. In this episode, Deborah Plum chats with Brent about the revocable trusts. She answers the what, how, and why questions relating to these prevalent estate planning tools. Deborah and Brent also discuss practical aspects of revocable trusts and when they are appropriate. You will learn: What is a revocable trust? What is a Trustee? What is a beneficiary? How do revocable trusts work? What are the benefits of revocable trusts? When do I need a revocable trust? How are revocable trusts taxed? Why are revocable trusts used in estate planning? Deborah Plum is an associate in the private client and tax team of Withers. Deborah’s practice is focused on advising individuals, families and their businesses in respect to succession and estate planning, family office and business structuring and cross-border tax planning. She is experienced in issues relating to gifting transactions and charitable endeavors, estate taxes and corporate planning for clients in New York, Arizona, California and abroad. Deborah also has extensive knowledge of charitable foundations and not-for-profit organizations.   Prior to joining Withers, Deborah practiced as a trusts and estates planning lawyer with a global full-service firm in New York and Arizona and as a corporate tax lawyer for an international law firm in New York, where she advised on matters involving private equity funds, real estate investment trusts (REITs), and other investment vehicles in the context of mergers and acquisitions and tax-free reorganizations. She is admitted to practice law in both Arizona and New York.  While not practicing law, Deborah works as the CEO of BaseCamp for Veterans, Inc. (“BCI”).  BCI is a 501(c)(3) non-profit organization serving veterans and their families that Deborah co-founded in 2018. BCI offers the veteran community a variety of reintegration services, with a particular focus on equine therapy with wild horses that have had little to no human contact. Deborah can be found here: https://www.withersworldwide.com/en-gb/people/deborah-plum 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/.

Welcome to the 2023 Wealth and Law Estate Planning Bootcamp! In this series of five episodes, Brent is joined by guests to discuss the basics of estate planning. First up, Rachel Sass chats with Brent about the different fiduciary roles within estate planning, how they work, what they do, and how they interact. You will learn about the difference between a trustee, personal representative, agent under a financial power of attorney, agent under a health care power of attorney, and guardians. Getting a handle on this different roles will then inform the discussions in the later four episodes about Wills, Revocable Trusts, Financial Powers of Attorney, and Health Care Powers of Attorney. Rachel is a Vice President and Trust Advisor in the Tucson office at Northern Trust. Rachel is a member of the Southern Arizona Estate Planning Council, the Morris K. Udall Inn of Court, and State Bar of Arizona. Rachel is a former Miss Arizona United States and enjoys serving her community. She is a graduate of the Greater Tucson Leadership LEAD program, Class of 2021, and serves on the Board of Directors of the Roots & Roads Community Hospice Foundation. Rachel can be found here https://locations.northerntrust.com/us/az/tucson/3450-east-sunrise-drive/rachel-sass 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. 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 chats with Anna N’Jie-Konte and Keith Beverly, owners of Re-Envision Wealth, to discuss the secrets to creating strategic generational wealth. They provide effective strategies essential to helping clients grow and keep their wealth across generations. Anna N’Jie-Konte, MBA, CFP® is the President and Director of Financial Planning for Re-Envision Wealth, one of the few black-owned advisory firms in the country. She currently serves as a financial advisor and investment consultant to individuals andinstitutions who wish to build wealth in an intentional and values-aligned fashion. Keith is the Chief Investment Officer for Re-Envision Wealth, formerly known as GRID 202 Partners, one of the few Black-owned, independent Registered Investment Advisor (RIA) firms. With over 15 years of investment management and financial planning experience, Keith’s responsibilities range from building customized investment portfolios for private clients to transitioning institutionalclients to 100% mission alignment. Under his direction, the firm has developed an expertise in identifying private market investments that deliver attractive financial returns while achieving positive social impact. Both Anna and Keith can be found here: https://re-envisionwealth.com/ You can learn more about Brent here: https://www.rimonlaw.com/team/brent-nelson/ 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/.

In this episode, Brent talks to Darren Case, a partner at Tiffany & Bosco and a Fellow of the American College of Trust and Estate Counsel (ACTEC). They discuss the challenges and opportunities for ultra-high-net-worth (UHNW) families in today’s complex and uncertain environment. Together, they explore intricate financial aspects like the trends around interest rates, the mechanics of Grantor Retained Annuity Trusts (GRATs), Spousal Lifetime Access Trusts (SLATs), and the intricacies of irrevocable trust planning. Their discussion illuminates the complexities of these strategies, providing listeners with a better understanding and actionable advice. Darren Case is a partner at Tiffany & Bosco, P.A., practicing in the areas of tax, estate planning, and business law. With his in-depth knowledge and expertise, Darren is a resource for both domestic and international clients, helping them navigate through the complexities of tax and estate planning. He is also an ACTEC Fellow and the co-author of the Arizona Estate Planning and Probate Handbook, underlining his substantial contributions to the field. To learn more about Darren Case or to get in touch, visit his profile on the Tiffany & Bosco, P.A. website: Darren T. Case | Tiffany & Bosco You can learn more about Brent here: https://www.rimonlaw.com/team/brent-nelson/ 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 chats about how discounts abound in transfer tax planning (estate and gift tax)! Although sometimes discounts come from ownership of entities, like FLPs, that is not always the case. Charitable Remainder Trusts, Charitable Lead Trusts, Grantor Retained Annuity Trusts, Private Annuities, and Remainder Purchase Marital Trusts, all use discounts that are required in the Internal Revenue Code and the regulations. These discounts can be substantial and helpful depending on the 7520 rate. Brent discusses how that is so, how the regulatory discounts are calculated, and how they can be used to your or your client’s advantage.

Brent talks about online estate and trust document services. He explains why it isn’t “planning,” the difference between these online services and actual legal services, and how they are deceptively marketed to the masses. Brent also describes the historical context for the current structure and the need for access to legal services. In a buyer beware world, this is a warning to not equate these document preparation services with planning. You can learn more about Brent here: https://www.rimonlaw.com/team/brent-nelson/ 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 buy-sell agreements for small or family businesses. He explains how they work, the different versions (buy-sell, cross-purchase, dual), who they should apply to, and how they can be structure for payments. These agreements help preserve generational wealth in small businesses by clearly defining the economics between owners and the owners’ families. They also protect against bad actors, divorce, death, and incapacity–all events that can be detrimental to any small business. You can learn more about Brent here: https://www.rimonlaw.com/team/brent-nelson/ 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 chats with Ashley Francis about the emergence of ChatGPT and how it can improve your business. They discuss the technology, how to use ChatGPT, where they foresee it going, and whether it will replace professional service providers. They also offer practical tips on how to start integrating it into your business now. 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 You can learn more about Brent here: https://www.rimonlaw.com/team/brent-nelson/ 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/.

In this episode of our podcast, “How Financial Planning is Like Fly Fishing,” Brent is joined by seasoned financial advisor Doug Nelson. Brent and Doug dive deep into how different asset classes with varying time horizons can be key components of a successful financial plan, and how being flexible with different forms of investments can lead to financial success. Tune in now to learn how to navigate asset classes like a pro! You can learn more about Doug here: https://tciwealth.com/employee-directory/doug-nelson/ You can learn more about Brent here: https://www.rimonlaw.com/team/brent-nelson/ 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/.

In this episode, Brent sits down with Kyla Denanyoh, the host of the successful podcast, You Are A Lawyer. Kyla shares her experience on how she built and sustained her audience while working. She provides tips on how to start and grow your own podcast, and overcome obstacles along the way. Tune in to learn from Kyla’s journey and gain insights on how to create a podcast that will attract and engage your listeners. You can learn more about Kyla here: https://www.youarealawyer.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/.