Planning Reimagined

We know that making sure your family is taken care of is important to building your legacy. However, have you actually thought about true generational wealth building and why it means so much more than making sure your family has assets past your life?

In this episode of Planning Reimagined, Kris and Celeste welcome Mark Auten to discuss personal and estate planning. They discuss that while many are meticulous in planning out the legacy of their businesses, they often don't put the same thought into their personal planning, to sidestep potential legal pitfalls and guarantee a seamless process. They underscore the emotional challenges that often accompany financial decision-making within the realm of estate planning.

The episode also talks about "estate planning paralysis," a state many find themselves in when confronted with the complexities of preparing for the future. But as Celeste points out, initiating the process is as simple as calling the right advisor. From rolling premiums into a life insurance trust to the craft of family business succession, the conversation discusses strategies to effectively manage and transition wealth. They also discuss the challenges faced in probate cases, the value of involving children in financial discussions early, and the indispensable role of education in preparing future generations to handle wealth responsibly. We have a wealth transfer of approximately $36 trillion ahead of us, making estate planning more important than ever.

To connect with Mark, visit: https://plunksmith.com/mark-auten/

To learn more about Robin Glen, visit: RobinGlen.com

To schedule an appt, visit: www.calendly.com/ccmoya

Key Topics Covered:

• Approaching personal planning with the same detail as business planning
• The balance between financial decisions and emotional factors in estate planning
• Overcoming estate planning paralysis and starting the process
• Life insurance trusts as a cost-saving tool
• Customized estate planning and the role of specialized advisors
• Family business succession and preparing future generations for wealth management
• The impact of probate and strategies to avoid it
• Estate planning in blended families and the use of corporate trustees

In this episode of Planning Reimagined, Celeste, Michael, and Kris are joined by Jeff Bermis, Co-Founder of 1031 Specialists, to discuss wealth management through real estate and the intricacies of 1031 exchanges for tax deferment. They unravel the complexities of swapping investment properties, the evolution of Delaware Statutory Trusts, and the potential benefits and trade-offs of liquidity versus investment growth.

They also talk about the realities of managing family-owned real estate assets and why having the right team is crucial. In addition, they compare UPREITs and DSTs, breaking down the benefits, challenges, and considerations for smaller portfolios looking to engage with REITs.

They also discuss how 1031 exchanges operate, the critical role of a qualified intermediary, and the strict timelines investors must follow for a successful exchange. In addition, they compare the concerns of many individuals managing extensive asset portfolios, and Jeff offers his expertise, emphasizing the necessity of early and strategic planning.

To learn more about Robin Glen, visit: RobinGlen.com

To connect with Jeff, email at https://www.1031specialists.com.

To schedule an appt, visit: 

Topics Discussed

• Understanding Real Estate Ownership Transitions
• Mechanics of a 1031 exchange and its benefits
• Wealth Creation and Estate Planning
• Transitioning from Active Real Estate Management
• Navigating Complexity and Tax Implications in Real Estate Transactions
• Logistics of a 1031 Exchange with DST
• UPREIT Structures vs. DST
• Engagement with REITs and Accessibility for Small Portfolios

Welcome back to another wealth-building episode on the Robin Glen podcast, where your host, Celeste Moya and welcomes Kris Stegall and Michael Mazzone to dive deep into the world of real estate investing. In today’s episode, they discuss the complexities of diversifying your real estate portfolio, understanding the intricate tax implications, and setting up the right ownership structures to protect your assets and maximize your income deductions.

From discussing why placing all your money in one property type is a high-risk move to exposing the truth behind those too-good-to-be-true investment advice, our experts share actionable insights into becoming a material participant in real estate, the benefits a management company can provide, and how to plan for those essential tax-efficient exit strategies.

In the "Shiny Object Whack a Mole" segment, we challenge common investment rhetoric, promoting a skeptical approach to betting all on real estate or jumping straight into mega properties. We cover the advantages of starting small and exploring various investment avenues.

To learn more about Robin Glen, visit: RobinGlen.com

To schedule an appt, visit: www.calendly.com/ccmoya

Topics Discussed

• Introduction to Real Estate as a Wealth-Building Tool
• Diversification in Real Estate Investment
• Skepticism and Research in Investment Advice
• The Role and Impact of Taxes in Real Estate
• Being a Material Participant in Real Estate
• Client Success Stories and Strategies

Welcome to the first episode of planning reimagined.