TFE Talks: Navigating Wealth, Business, and Legacy

In this episode of TFE Talks, host Jordan Goewey talks with new attorney Maisie Greene about her path from the Chicago suburbs to Wake Forest University, Washington University in St. Louis School of Law, and ultimately to Spartanburg, South Carolina. Maisie explains how her experience at a large St. Louis firm in estate planning and business law prepared her to bring big-firm expertise to a focused practice at Thomas, Fisher & Edwards. They discuss why she’s drawn to estate planning, the direct impact it has on families and business owners, and what excites her about serving the growing Spartanburg market, highlighting her client-centered approach and the firm’s collaborative, process-driven style.

Topics in this conversation include: 

TFE Talks: Navigating Wealth, Business, and Legacy is the official podcast from Thomas, Fisher & Edwards, a premier estate planning and business advising law firm in Greenville, South Carolina. Each episode, our attorneys break down complex legal topics—covering estate planning, business strategy, and legacy building—into clear, actionable insights. Whether you're refining a plan with our team or preparing for the future, this podcast serves as your go-to resource for thoughtful, strategic planning. Tune in for guidance that helps you protect what matters most. Learn more at www.tfelawfirm.com.

The information provided in this podcast is for general informational purposes only and should not be considered legal advice. Listening to this podcast does not create an attorney-client relationship with Thomas, Fisher & Edwards or any of its attorneys. Laws and regulations vary, and legal matters are highly fact-specific. For personalized legal guidance, please consult with a qualified attorney.

Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

In this episode of TFE Talks, attorneys Jordan Goewey and David Thompson discuss the pros and cons of different business entities, focusing on corporations, S corporations, LLCs, and professional associations in South Carolina. They explain key concepts such as corporate formalities, double taxation, S corp election benefits, and unique requirements for professional practices. Listeners will learn essential considerations for choosing the right entity and the importance of informed planning and seeking professional guidance to optimize liability protection and tax outcomes. Don’t miss these insights! 

Topics in this conversation include: 

• Welcome to Today’s Episode and the Topic for Today (0:55)
• Updates on Firm and Professional Achievements (3:45)
• Explaining the Formalities of Corporations (6:32)
• Tax Implications for Corporations vs. LLCs (9:30)
• S Corporation Basics and Owner Limitations (12:28)
• S Corporation Benefits: Payroll and Tax Savings (15:25)
• Qualified Small Business Stock Discussion (18:23)
• Professional Associations and Entity Choice for Professionals (21:21)
• Key Considerations When Electing Business Entities (22:48)

TFE Talks: Navigating Wealth, Business, and Legacy is the official podcast from Thomas, Fisher & Edwards, a premier estate planning and business advising law firm in Greenville, South Carolina. Each episode, our attorneys break down complex legal topics—covering estate planning, business strategy, and legacy building—into clear, actionable insights. Whether you're refining a plan with our team or preparing for the future, this podcast serves as your go-to resource for thoughtful, strategic planning. Tune in for guidance that helps you protect what matters most. Learn more at www.tfelawfirm.com.

The information provided in this podcast is for general informational purposes only and should not be considered legal advice. Listening to this podcast does not create an attorney-client relationship with Thomas, Fisher & Edwards or any of its attorneys. Laws and regulations vary, and legal matters are highly fact-specific. For personalized legal guidance, please consult with a qualified attorney.

Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

In this episode of TFE Talks, attorneys Jordan and David discuss the importance of choosing the right business entity, exploring sole proprietorships, general partnerships, limited partnerships, and LLCs. They break down the tax implications and liability concerns for each structure, emphasizing how the default choices can impact your personal assets and business risks. Listeners will learn why proper entity selection and professional guidance are crucial for protecting their wealth and ensuring long-term business success. Don’t miss these great insights!

Topics in this conversation include: 

• Welcome to Today’s Episode and New Recording Format (0:42)
• Sharing Recent Accolades for Jordan and David (3:11)
• Why Entity Choice Matters for Business Owners (6:18)
• Sole Proprietorships: Simple but Risky (9:24)
• Accidental Partnerships and Liability Insights (12:25)
• What Distinguishes Limited Partnerships? (15:30)
• LLCs: Flexibility, Taxation, and Asset Protection (18:36)
• Final Takeaways and Previewing the Next Episode (20:30)

TFE Talks: Navigating Wealth, Business, and Legacy is the official podcast from Thomas, Fisher & Edwards, a premier estate planning and business advising law firm in Greenville, South Carolina. Each episode, our attorneys break down complex legal topics—covering estate planning, business strategy, and legacy building—into clear, actionable insights. Whether you're refining a plan with our team or preparing for the future, this podcast serves as your go-to resource for thoughtful, strategic planning. Tune in for guidance that helps you protect what matters most. Learn more at www.tfelawfirm.com.

The information provided in this podcast is for general informational purposes only and should not be considered legal advice. Listening to this podcast does not create an attorney-client relationship with Thomas, Fisher & Edwards or any of its attorneys. Laws and regulations vary, and legal matters are highly fact-specific. For personalized legal guidance, please consult with a qualified attorney.

Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

In this episode of TFE Talks, attorneys Jordan Goewey and Parker Baker break down the complex topic of Section 754 elections in partnership taxation, explaining when and why these elections matter. Listeners learn the difference between inside and outside basis, the tax implications of partnership interest transfers, and the importance of timely making a 754 election. Key takeaways include being proactive in planning, considering including 754 election provisions in operating agreements, coordinating with accountants to avoid costly tax mistakes, and so much more.

Topics in this conversation include: 

• Welcome to Today’s Episode (0:37)
• What Is a Section 754 Election and When Does It Arise? (3:06)
• Understanding Inside Basis Versus Outside Basis (5:18)
• Why Mismatched Basis Matters: 754 Election Relevance (7:04)
• The Downsides or Risks of a 754 Election (8:53)
• How to Make the 754 Election and Why Timing Matters (10:14)
• Biggest Mistake: Failing to Make the Election (10:27)
• Practical Takeaways for Business Owners and Advisors (11:37)
• Importance of Planning in Advance with Operating Agreements (12:12)
• Final Thoughts and Takeaways and Where to Learn More (13:03)

TFE Talks: Navigating Wealth, Business, and Legacy is the official podcast from Thomas, Fisher & Edwards, a premier estate planning and business advising law firm in Greenville, South Carolina. Each episode, our attorneys break down complex legal topics—covering estate planning, business strategy, and legacy building—into clear, actionable insights. Whether you're refining a plan with our team or preparing for the future, this podcast serves as your go-to resource for thoughtful, strategic planning. Tune in for guidance that helps you protect what matters most. Learn more at www.tfelawfirm.com.

The information provided in this podcast is for general informational purposes only and should not be considered legal advice. Listening to this podcast does not create an attorney-client relationship with Thomas, Fisher & Edwards or any of its attorneys. Laws and regulations vary, and legal matters are highly fact-specific. For personalized legal guidance, please consult with a qualified attorney.

Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

In this episode of TFE Talks, Attorneys Jordan Goewey and David Thompson break down the essentials of community property vs. separate property states, highlighting the unique legal frameworks, tax advantages, and estate planning implications, especially for clients moving between states. The discussion covers which states have community property laws, the substantial income tax benefits of community property, and the importance of identifying and segregating assets after relocating. Practical advice is given on using community property trusts and consulting estate planning attorneys early to protect client wealth and ensure the best possible outcomes. Key takeaway: Awareness and proactive planning are crucial for anyone with significant assets or those considering a move between different property law states. Don’t miss these great insights. 

Topics in this conversation include: 

• What Is Community Property? (1:38)
• States With Community Property Laws (2:38)
• Importance Of Community Property For Estate Planning (4:13)
• Income Tax Benefits Of Community Property (5:19)
• How Title And Community Property Interact (8:39)
• Handling Community Property After Moving States (10:39)
• Preserving Community Property With Trusts (13:14)
• Opt-In States And Elective Community Property (16:08)
• Practical Advice For Advisors And Clients (18:26)

TFE Talks: Navigating Wealth, Business, and Legacy is the official podcast from Thomas, Fisher & Edwards, a premier estate planning and business advising law firm in Greenville, South Carolina. Each episode, our attorneys break down complex legal topics—covering estate planning, business strategy, and legacy building—into clear, actionable insights. Whether you're refining a plan with our team or preparing for the future, this podcast serves as your go-to resource for thoughtful, strategic planning. Tune in for guidance that helps you protect what matters most. Learn more at www.tfelawfirm.com.

The information provided in this podcast is for general informational purposes only and should not be considered legal advice. Listening to this podcast does not create an attorney-client relationship with Thomas, Fisher & Edwards or any of its attorneys. Laws and regulations vary, and legal matters are highly fact-specific. For personalized legal guidance, please consult with a qualified attorney.

Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

In this episode of TFE Talks, Jordan Goewey and Parker Baker break down the complex topic of the Delaware Tax Trap, a strategic estate planning tool that can boost tax efficiency for beneficiaries of irrevocable trusts. They explain what the Delaware Tax Trap is, when and how to leverage it for a basis step-up on appreciated assets, and the pros and cons of using a beneficiary’s will versus decanting a trust. Listeners will learn how rising estate tax exemptions make income tax planning more crucial than ever, and receive practical guidance for identifying opportunities and avoiding common pitfalls in advanced trust and estate administration. Don’t miss these great insights! 

Topics in this conversation include: 

• Explaining the Delaware Tax Trap (0:50)
• What Triggers the Trap and Why It’s Dangerous (1:22)
• Who Should Use the Delaware Tax Trap? Ideal Scenarios (3:29)
• Using a Limited Power of Appointment: Process and Benefits (5:17)
• Comparing Decanting vs. Delaware Tax Trap: Pros and Cons (7:12)
• Practical Advice for Listeners on Identifying Opportunities (10:24)
• Income Tax Planning is the New Estate Planning (11:09)
• Parting Thoughts and Ways to Learn More (12:33)

TFE Talks: Navigating Wealth, Business, and Legacy is the official podcast from Thomas, Fisher & Edwards, a premier estate planning and business advising law firm in Greenville, South Carolina. Each episode, our attorneys break down complex legal topics—covering estate planning, business strategy, and legacy building—into clear, actionable insights. Whether you're refining a plan with our team or preparing for the future, this podcast serves as your go-to resource for thoughtful, strategic planning. Tune in for guidance that helps you protect what matters most. Learn more at www.tfelawfirm.com.

The information provided in this podcast is for general informational purposes only and should not be considered legal advice. Listening to this podcast does not create an attorney-client relationship with Thomas, Fisher & Edwards or any of its attorneys. Laws and regulations vary, and legal matters are highly fact-specific. For personalized legal guidance, please consult with a qualified attorney.

Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

In this episode of TFE Talks, Jordan Goewey and Parker Baker break down the complexities of holding S corporation shares in trust, exploring the differences between grantor trusts, QSSTs, and ESBTs, and their respective tax implications. They discuss the importance of careful estate and business planning to avoid costly mistakes like inadvertent S corporation termination, and offer practical advice for business owners, including working closely with CPAs, establishing stock restriction agreements, and building flexibility into estate plans. Listeners will gain actionable insights on protecting their business and legacy through informed trust and tax strategies. Don’t miss this enlightening conversation.

Topics in this conversation include: 

• Overview: S Corporation Shares in Estate Planning (0:47)
• Why S Corporation Shares in Trusts Are Complex (1:32)
• Types of Trusts That Can Hold S Corporation Shares (3:06)
• Requirements for QSST (Qualified Subchapter S Trust) (4:33)
• Stock Restriction Agreements and S Corp Elections (5:59)
• ESBT (Electing Small Business Trust) Requirements and Flexibility (7:05)
• Comparing QSST and ESBT: Why Choose One Over the Other? (7:39)
• Tax Implications of QSST vs. ESBT (8:05)
• Planning for Trust Elections in Estate Planning (10:39)
• Building Flexibility into Estate Plans (11:00)
• Fixing Inadvertent S Corporation Terminations (12:08)
• Practical Advice for S Corporation Owners (13:14)
• Importance of Team Approach and Working with CPAs (14:14)
• Final Thoughts and Takeaways (15:35)

TFE Talks: Navigating Wealth, Business, and Legacy is the official podcast from Thomas, Fisher & Edwards, a premier estate planning and business advising law firm in Greenville, South Carolina. Each episode, our attorneys break down complex legal topics—covering estate planning, business strategy, and legacy building—into clear, actionable insights. Whether you're refining a plan with our team or preparing for the future, this podcast serves as your go-to resource for thoughtful, strategic planning. Tune in for guidance that helps you protect what matters most. Learn more at www.tfelawfirm.com.

The information provided in this podcast is for general informational purposes only and should not be considered legal advice. Listening to this podcast does not create an attorney-client relationship with Thomas, Fisher & Edwards or any of its attorneys. Laws and regulations vary, and legal matters are highly fact-specific. For personalized legal guidance, please consult with a qualified attorney.

Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

In this episode of TFE Talks, Jordan Goewey and Matthew Edwards explore the importance of prenuptial agreements in the context of estate planning and business succession. They explain what prenups are, why it’s crucial to set them up before marriage rather than after, and how they interact with South Carolina law, including the concept of the elective share. Listeners will learn about the legal requirements for enforceable agreements, such as full financial disclosure and separate attorney representation, and gain practical tips for protecting personal and family assets while fostering clear, informed communication between partners.

Topics in this conversation include: 

• Introducing The Topic of Prenuptial Agreements (0:33)
• What is a Prenuptial Agreement? (1:21)
• Importance of Prenups Before Marriage vs. Postnuptial Agreements (1:58)
• The Elective Share in South Carolina and its Role in Prenups (3:11)
• Legal Requirements for Prenups—Consideration and Financial Disclosure (4:40)
• Separate Attorney Representation for Each Spouse (7:18)
• Practical Advice: Framing Prenups as an Insurance Policy (8:32)
• Collaboration with Financial Advisors During Disclosure (9:40)
• Simplicity vs. Complexity in Prenup Agreements (10:27)
• Advice on Timing: When to Discuss and Sign a Prenup (11:10)
• Avoiding Duress: Signing in Advance of the Wedding (12:50)
• Approaching the Prenup Conversation (13:38)
• Practical Summary—Prenup as a Gift and Positive Planning (14:58)
• Final Thoughts and Takeaways (15:54)

TFE Talks: Navigating Wealth, Business, and Legacy is the official podcast from Thomas, Fisher & Edwards, a premier estate planning and business advising law firm in Greenville, South Carolina. Each episode, our attorneys break down complex legal topics—covering estate planning, business strategy, and legacy building—into clear, actionable insights. Whether you're refining a plan with our team or preparing for the future, this podcast serves as your go-to resource for thoughtful, strategic planning. Tune in for guidance that helps you protect what matters most. Learn more at www.tfelawfirm.com.

The information provided in this podcast is for general informational purposes only and should not be considered legal advice. Listening to this podcast does not create an attorney-client relationship with Thomas, Fisher & Edwards or any of its attorneys. Laws and regulations vary, and legal matters are highly fact-specific. For personalized legal guidance, please consult with a qualified attorney.

Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

In this episode of TFE Talks, attorneys Jordan Goewey and David Thompson break down the latest changes to South Carolina trust law, focusing on grantor trust reimbursement, expanded powers of appointment, and the extension of the rule against perpetuities to 360 years. They discuss how these updates offer greater flexibility, enhanced creditor protection, and new planning opportunities for clients. Key takeaways include the importance of reviewing existing trust documents to ensure alignment with the new law and the potential for South Carolina residents to benefit from advanced trust strategies without looking to other states. Don’t miss this important information. 

Topics in this conversation include: 

• Overview of New South Carolina Trust Law and Its Purpose (0:46)
• Explanation of Grantor Trusts and Reimbursement (1:13)
• Importance of Grantor Trust Reimbursement in Planning (2:05)
• Creditor Protection and Flexibility in New Law (4:18)
• Powers of Appointment and Increased Trust Flexibility (5:31)
• Practical Implications for Irrevocable Trust Planning (7:11)
• Changes to the Rule Against Perpetuities and Dynasty Trusts (8:26)
• Impact of 360-Year Rule on Estate Planning (10:46)
• Advice for Clients: Reviewing and Updating Trust Documents (11:53)
• Practical Takeaways and Benefits for South Carolina Residents (13:46)
• Closing Remarks and Contact Information (15:20)

TFE Talks: Navigating Wealth, Business, and Legacy is the official podcast from Thomas, Fisher & Edwards, a premier estate planning and business advising law firm in Greenville, South Carolina. Each episode, our attorneys break down complex legal topics—covering estate planning, business strategy, and legacy building—into clear, actionable insights. Whether you're refining a plan with our team or preparing for the future, this podcast serves as your go-to resource for thoughtful, strategic planning. Tune in for guidance that helps you protect what matters most. Learn more at www.tfelawfirm.com.

The information provided in this podcast is for general informational purposes only and should not be considered legal advice. Listening to this podcast does not create an attorney-client relationship with Thomas, Fisher & Edwards or any of its attorneys. Laws and regulations vary, and legal matters are highly fact-specific. For personalized legal guidance, please consult with a qualified attorney.

Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

In this episode of TFE Talks, Jordan Goewey and Matthew Edwards discuss the critical role of buy-sell agreements in business ownership. They explain what buy-sell agreements are, the differences between cross purchase and redemption types, common triggering events, and various methods for valuing a business. The conversation also covers strategies for funding buyouts, the best timing for creating these agreements, and common mistakes business owners make—such as neglecting to update or review their agreements. Key takeaways include the importance of having a buy-sell agreement in place from the start, regularly reviewing and updating it, seeking professional advice to ensure the agreement meets the evolving needs of the business and its owners, and more. 

Topics in this conversation include: 

• Introducing Today’s Topic: Buy-Sell Agreements (0:33)
• What is a Buy-Sell Agreement? (1:16)
• Types of Buy-Sell Agreements: Cross-Purchase vs. Redemption (3:22)
• Valuation Methods in Buy-Sell Agreements (5:44)
• Payment Methods for Buyouts (8:52)
• Timing: When to Set Up a Buy-Sell Agreement (11:23)
• Common Mistakes and Practical Advice (13:42)
• Reviewing and Updating Buy-Sell Agreements (15:24)
• Final Thoughts and Takeaways (16:33)

TFE Talks: Navigating Wealth, Business, and Legacy is the official podcast from Thomas, Fisher & Edwards, a premier estate planning and business advising law firm in Greenville, South Carolina. Each episode, our attorneys break down complex legal topics—covering estate planning, business strategy, and legacy building—into clear, actionable insights. Whether you're refining a plan with our team or preparing for the future, this podcast serves as your go-to resource for thoughtful, strategic planning. Tune in for guidance that helps you protect what matters most. Learn more at www.tfelawfirm.com.

The information provided in this podcast is for general informational purposes only and should not be considered legal advice. Listening to this podcast does not create an attorney-client relationship with Thomas, Fisher & Edwards or any of its attorneys. Laws and regulations vary, and legal matters are highly fact-specific. For personalized legal guidance, please consult with a qualified attorney.

Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.