Wealth and Law

Brent chats with Nicole Davis, CPA, MBA — founder of Butler-Davis Tax & Accounting and a Forbes Top 200 CPA — about why today's accountants can (and should) treat traditional compliance work as a choice, not a requirement. Nicole explains how technology, distributed workforces, great processes, and training clients can help accountants (and any other professional) find more time for high-value advisory work.

Brent chats with Joel Revill about Private Trust Companies (PTCs). They explain the basics of PTCs and their structures. They explain what families would want to use a PTC and how the structure can solve issues of governance and management of family wealth. Finally, they discuss the unique position of PTCs with crypto assets.

Brent talks about what tax planning can happen AFTER the client has already signed the deal to sell a large asset. He talks about the difference between income and estate tax planning. He then discusses terms of the deal, installment method, QSBS, charitable giving, charitable lead annuity trusts, and how discounts may still be available on gifts, even after the ink is dry.

Brent chats about five key questions relating to tariffs and planning in difficult market conditions. He gives answers to the following questions: 1. What's the real strategy behind these tariffs—and what is the administration hoping to achieve by imposing them now? 2. How might these tariffs and the market's reaction affect U.S. consumers and investors in the short term? 3. How do currency exchange rates fit into this picture—and why does it matter if the U.S. dollar strengthens or weakens? 4. How can volatile markets actually create opportunity for strategic estate planning? 5. In times like this, what are the biggest estate planning mistakes people make—and how can they be avoided

Brent chats with T.J. Ryan about important terms to make your trusts better. In this first part of that conversation, they discuss the importance of settlor intent, HIPAA releases and incapacity determinations, determining the character of property of the trust as community property or separate property, holding property in lifetime spendthrift trusts with careful distribution provisions, and using special co-trustees strategically (drug testing anyone?).

Brent chats with Steven Zeiger about why life insurance products are so complex. Steven explains the mechanics of the products and how data can reveal with are best for our clients. Steven also shares his methodology and best practices for comparing life insurance options.

Brent chats about how AI can be used in estate planning now. He discusses its current limitations and dangers associated with AI-Emboldened Advisers. He also discusses the future outlook of AI and how advisers can remain relevant. This material is for informational purposes only. The views expressed are those of the speaker as of the […]

In this Live recording, Brent chats about the state of the tax bills in Washington, DC, an interesting fiduciary liability case involving foreign accounts, how to plan for an uncertain future, and what gifts volatile markets bring for private wealth transfers.

This is an episode from March 2022, where Brent talks about his history with Ukraine and Russia's invasion. Although we are not almost three years removed, the content seems as relevant today as it was then.

Brent chats about how adding leverage (or debt) to estate planning vehicles can increase the wealth transfer potential. He talks specifically about adding debt in irrevocable grantor trusts, GRATs, and family limited partnerships.

Brent chats about how to move a trust's income tax residence to a State with no income tax. He talks about what trusts can do this and when and why it might make sense. He also explains when the math does not favor that kind of move.

Brent chats about the new administration, and news of tax proposals from Republican tax negotiators. He shares his thoughts on tariffs, lower C corporation tax rates, the SALT deduction, the 199A deduction, opportunity zone funds, and estate tax. He also discusses what some of these changes could mean for taxpayers trying to plan.

Brent chats about how he's thinking about using the 2025 Estate Tax exemption of $13.99 million. He discusses getting ulta-high net worth clients to act, the basic planning frameworks and numbers, and benefits of the full picture.

Brent chats with Ryan Halvorson about how to make smart moves with equity compensation. They talk about different kinds of equity compensation, from RSUs, stock options, to deferred compensation. They then explain what issues to watch out for and how to make smart decisions from a financial planning perspective.

Brent chats with Paul Hood about what the world looks like for buy sell agreements after the US Supreme Court's decision in Connelly. They discuss how, if at all, the decision changes existing law, what business owners should think about for business succession planning, and where the case leaves us going forward.

Brent chats with Toni Ann Kruse about what it means from a practical and tax perspective to expatriate from the United States. They explain the difference in residency, covered expatriates, and significant tax considerations. They also talk about some of the day-to-day challenges of leaving the United States.

Brent chats with Geoff Grenert about how to help client understand complicated ideas as part of their planning. They discuss the challenge of explaining things simply, helping people overcome their own fears, and ultimately helping people make wise decisions. They also talk about their processes for creating and delivering the message their clients need to hear.

Brent explains some of the challenges of planning when there is a non-US citizen spouse. He dives into the estate tax marital deduction, the gift tax marital deduction, Form 3520, income tax recognition events, and expatriation. He also explains how these issues arise at various generational levels of a family.

Brent chats with Matt Hochstetler about the basics of irrevocable life insurance trusts (ILITs). They explain what these trusts are, why they are useful, Crummey provisions, and creative planning with life insurance.

Brent chats about how to think about the US elections, reminds you the CTA beneficial owner reports are due by December 31, 2024, suggests planning based on the laws as they are not as we wish they would be, and spotting important red flags when there are non-Americans in the family tree.

Brent chats about the basics of Remainder Purchase Marital Trusts (RPMTs). He explains how they work within the gift tax marital deduction rules. Then he compares them to QTIP Trusts and IDGTs (see our prior episodes about those). Finally, Brent walks through the mechanics of RPMTs and how they can be effective wealth transfer tools. […]

Brent chats with Steve Gorin about the Beneficiary Deemed Inheritor's Trust (BDIT). They talk about the structure of these irrevocable trusts, their potential benefits in estate planning, and risks involved in these trusts. they give practical ideas about analyzing whether to use BDITs.

Brent chats with Cody Cassidy about the importance of holding family meetings. They discuss why a meeting can set the tone for a family's financial success. They also share tips and best practices for planning, holding, and following up on those meetings.

Brent chats with Justin Miller about Spousal Lifetime Access Trusts (SLATs). They explain what these trusts are, how they can be used to save estate taxes, and when to consider one. They also dive into some of the planning challenges and how to select good assets for SLATs.

Brent discusses the US Supreme Court's Loper Bright case. In the case the Supreme Court overturned its own legal doctrine called Chevron deference. Brent talks about the case, what the justices said, and what the case might mean for tax regulation and planning in the future.

Brent chats with Naomita Yadav about all the ways S corporations are problematic. They commiserate about the shareholder limitations, trusts as shareholders, generational wealth planning, and real estate, among other things. They also offer insights and solutions to some of these common issues.

Brent chats with Chris Siegle about Beneficiary Deemed Owner Trusts (BDOTs). They explain how these trusts work and what opportunities they present for planning. They also discuss the potential for future changes in the tax laws, what you might do to plan for those changes, and how BDOTs might fit into that picture.

Brent chats with Toni Ann Kruse about qualified personal residence trusts (QPRTs). These trusts are popular in high-interest environments to transfer personal residences among family members. Brent and Toni explain how they work, the income and transfer tax rules, and give planning tips.

Brent chats about the many non-probate transfers. He explains the ownership rights, tax treatment, what happens at death, and issues during lifetime. He also explains pitfalls to plan for. In the episode, he describes joint accounts, joint tenancy with right of survivorship, beneficiary deeds, transferable on death, payable on death, and beneficiary designations.

In this episode, Brent talks about the importance of good writing. He offers tips on how to write well, and, in particular, how to edit well. He shares the importance of audience, levels of editing, and using lists. He then gives you a checklist to use in formal writing. Good writing is often a sign of good thinking. Learning this skill will help you in all types of communication.

Brent chats with Naomita Yadav about the basics of qualified terminable interest property trusts (QTIP Trusts). They explain the key features, how to use them in planning, and some important foot faults to avoid. Naomita also explains the difference between a QTIP Trust and a SLAT.

Brent chats with Chris Siegle about how to make non-grantor trusts income tax efficient. They talk about normal QTIP and Bypass Trusts, how those trusts might be made grantor trusts, what powers and authority to think about, and other planning tips.

In this episode, Brent introduces you to Intentionally Defective Grantor Trusts (IDGTs). He explains the transfer tax context, how the trust is formed, its special income tax treatment, and the planning uses for IDGTs.

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.

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.

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 ... Read more

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.

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.

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.

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.

If you can only listen to one podcast about crypto currency in estate planning, make it this one. Brent chats with Karin Pragnley and Ross Bruch about the details. 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.

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.

Brent chats with Ashley Francis about artificial intelligence and how it can be used in many ways 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.

Brent chats with Gary Fletcher about the now effective Corporate Transparency Act. They talk about what the act requires in 2024 for existing reporting companies, how to comply, bugs in the system, and what might be next. They give useful tips on how to understand the Act and make sure you and your clients are fully compliant.

Brent chats with John Briggs, who returns to the podcast to discuss his upcoming book, The 3.3 Rule: The New Workday Standard of Creating More by Working Less. They discuss how John has grown his team, tips on managing people to be effective operators, and how a more balances day can increase outputs.

Brent chats with Victoria Richardson about all things art and collectibles. They swap fund stories about clients' amazing collections, discuss how to properly value these items, and dig into the IRS view of taxing valuable personal property.

Brent chats with Julian Zebot about why families tend to fight. It isn't always just about money. They explore the common reasons for fights, how to resolve them, and typical procedures when courts are involved.

Brent discusses some of the hottest topics in tax and trust planning. He talks about oral arguments before the US Supreme Court in the Moore case, Senator Wyden's proposed (again) billionaire tax, and trust planning options in light of higher interest rates. He also dispels a few urban legends relating to guessing about other people's tax, not taking what others do as what you should do, and how to see things with fresh eyes.

Brent discusses passive foreign investment companies (PFICs). He explains what they are, how they can appear in surprising places, their complex taxation, and gives tactical ideas about how to deal with these assets.

This is a throw-back to a past episode where Brent and Rachel Sass discuss the history, structure, mechanics, and incredible utility of trusts. They explain where trusts come from, why they are so helpful in our current system, and how they are used in estate planning.

Brent chats with Amy Vetter about using her Business, Balance & Bliss method to identify, manage, and overcome the negative effects of stress. The conversation is wide ranging and Amy provides specific insight into how these normal human challenges can help anyone--professionals and their clients. The lessons shared reach beyond professional life to give listeners a view of some of the life experience and behavior of their clients so that they can help them find success in their lives.