In this episode of Future Focused: Sophisticated Estate Planning, host Michael Clear welcomes back Dan Maloney, Senior Practice Manager, discussing the introduction of "Will Power," an automation bot designed to streamline the drafting process from preparation of documents to task tracking and data collection. An example of robotic process automation, this innovative tool significantly reduces overall time spent on redundant and highly manual tasks, integrating seamlessly with existing systems to enhance workflow efficiency. From development through to implementation, the focus was always to enhance accuracy, minimize errors, and deliver faster, more predictable results to clients. In pursuit of these objectives, Dan and Michael also explore emerging technologies and innovative solutions to further elevate the practice of Private Client Services.

In this episode, host Michael Clear is joined by Matt Brown, a Litigation Partner at Wiggin and Dana, to explore the human side of probate litigation. Their conversation sheds light on the emotional challenges that often accompany major life events, such as the loss of a loved one. They emphasize the value of thorough preparation and maintaining composure in the courtroom, underscoring how honesty and clear communication can strengthen credibility. The discussion also examines the increasing role of mediation in resolving disputes outside of court and highlights the importance of proactive planning to reduce potential conflicts, while acknowledging that some disputes may be inevitable.

In this episode of Future Focused: Sophisticated Estate Planning, host Michael Clear welcomes Corporate Partner Daniela Spanos to dive into planning strategies tailored for founder-owned businesses navigating an exit or a transition to a new form of ownership. They examine the key drivers behind seller decisions, such as liquidity needs and retirement goals, and explore how different buyer types, including private equity firms and strategic acquirers, shape those choices. The conversation highlights the critical role of counsel in structuring incentives, like equity retention after sale, and in addressing common tax-related diligence challenges. Michael and Daniela stress the importance of engaging trusted advisors early to manage complexities and ensure alignment with long-term business objectives.

On this episode, host Erin Nicholls welcomes Victoria Fiengo, Private Client Services Associate, to discuss the complexities of self-dealing in private foundations. The discussion focuses on the importance of understanding the broad definition of disqualified persons to avoid impermissible self-dealing actions that the IRS would consider an abuse of its rules. In this vein, practitioners are reminded of the need for careful estate planning, particularly when considering private foundations as beneficiaries, as it can complicate estate administration. Tune in, as this episode serves as a guide for navigating numerous regulations surrounding private foundations and self-dealing.

On this episode, host Michael Clear is joined by Wiggin and Dana Litigation Partner Joseph Merschman. Joe and Michael explore the concept of “business divorce,” referring to conflicts among co-owners of closely held companies. These disputes often arise from family tensions, unequal contributions, or shifts in the business’s direction. The episode highlights the importance of involving legal counsel early in the process, as most cases are typically settled, often through buyouts or even the sale of the business.

In this episode of Future Focused: Sophisticated Estate Planning, Host Michael Clear is joined by Litigation Partner Michael Kenny, where they discuss the complexities of probate disputes, focusing on will contests particularly related to undue influence and testamentary capacity. As people live longer and healthier lives, Michael Kenny notes that there is growing awareness of complex personal relationships that extend beyond traditional family heirs. They review legal standards, evidentiary challenges, emerging trends, and methods for reducing disputes during estate planning, such as including no-contest clauses and ensuring the decedent’s intentions are conveyed directly to the draftsperson rather than through an intermediary who could exert influence.

In this episode, Host Michael Clear is joined by a special guest, Senior Practice Manager Dan Maloney, who shares how his unique role helps shape client experience, team culture and business development at Wiggin and Dana. From onboarding and retention efforts to leveraging technology, like automation bots and project management software, and exploring creative marketing strategies, Dan offers a behind-the-scenes look at the operational heartbeat of the department. Tune in to hear how thoughtful strategy and collaboration drive excellence beyond the legal work.

 In this episode of Future Focused: Sophisticated Estate Planning, hosts Michael Clear and Erin Nicholls are joined by Corporate Partners Scott McClure and Len Gray to discuss how the One Big Beautiful Bill Act (OBBBA) is expanding opportunities with qualified small business stock (QSBS). OBBBA brought about key updates to QSBS, including an increased capital gain exclusion amount, a higher asset threshold for a company to qualify as a small business, and reduced holding periods. Tune in, as this conversation emphasizes the importance of proactive tax planning for founders and business owners to maximize their benefits under this new legislation.

In this episode of Future Focused: Sophisticated Estate Planning, Partner Erin Nicholls and Associate Sara Osinski examine the complexities of managing private foundations. They focus on how the 5% minimum distribution requirement is calculated, including the role of administrative expenses. The conversation highlights the importance of federal compliance through Form 990-PF and stresses the need for accurate documentation. They also share best practices such as holding annual board meetings, consulting advisors, and obtaining pre-approval for scholarship programs. Key compliance risks like self-dealing are also addressed, reinforcing the importance of strong governance.

Today marks a special milestone, our 50th episode! Since launching in 2023, we've had the privilege of engaging with thought leaders, innovators, and trusted advisors to explore the most pressing issues shaping families and their wealth. To celebrate, we’re taking a moment to reflect. In this episode, we’ll revisit some of the standout conversations that have defined our journey, from generational transitions and philanthropic strategy to the intricacies of tax and trust administration. Whether you've been with us from the start or are tuning in for the first time, we’re grateful to have you as part of this community. Here's to 50 episodes, and many more to come!