This episode examines the intricacies of using trusts to own S corporation stock, focusing on the permissible trust structures under the Internal Revenue Code. It explains the distinctions between Grantor Trusts, Qualified Subchapter S Trusts (QSSTs), and Electing Small Business Trusts (ESBTs), highlighting their respective tax implications and suitability for various estate planning goals. Practical drafting tips for attorneys and other professionals involved in structuring such arrangements emphasize the importance of precise language and timely elections to maintain S corporation status. Finally, it underscores the need for professional guidance in navigating the complex rules governing trust ownership of S corporations.

This episode argues that emotional intelligence is crucial for successful estate planning. It emphasizes that while technical expertise is important, understanding and managing the emotions of clients and their families is equally vital. The podcast explores various aspects of emotional intelligence, such as self-awareness, empathy, and relationship management, showing how these skills help navigate difficult conversations, family conflicts, and client anxieties related to mortality and legacy. Practical applications are discussed, including initial client meetings, family discussions, and addressing common client fears. Finally, the document advocates for ongoing professional development to improve emotional intelligence in estate planning practice.

This three-part series on estate planning mistakes highlights common errors undermining estate plans. Part 1 focused on jointly held property issues, insufficient liquidity, and executor selection. Part 2 covered marital deduction pitfalls, strategic asset distribution, business continuity, and modern family dynamics. Part 3 details further crucial mistakes including incomplete client information, poorly coordinated estate instruments, poor communication of the plan, incorrect beneficiary designations, outdated plans, overreliance on joint tenancy, insufficient disability planning, failure to account for blended families, and reliance on informal arrangements. The ultimate goal is to help clients and planners create effective, comprehensive, and harmonious estate plans.

This episode (Part 2) his article offers estate planning professionals a technical refresher on common oversights, focusing on areas needing updated strategies. Key issues discussed include avoiding the marital deduction trap through credit shelter trusts and addressing international complexities with qualified domestic trusts. The article also emphasizes sophisticated asset distribution beyond equal shares, considering beneficiaries' circumstances and the unique challenges of digital assets. Furthermore, it highlights the importance of robust business continuity plans, encompassing digital assets and platform dependencies, and the necessity of meticulous documentation and record management, especially for digital assets. Finally, the text stresses the need for integrated professional teams and adapting to modern family dynamics and evolving legacy planning concepts.

This podcast based on the "Top Ten Estate Planning Mistakes - 2025 Edition" highlights common errors in estate planning. Jointly held property is criticized for its tax implications, creditor exposure, and Medicaid planning complications. Life insurance strategies are examined, focusing on estate tax inclusion, transfer-for-value issues, and the pitfalls of improperly structured ILITs and business insurance. Insufficient liquidity is identified as a significant problem during estate administration. Finally, the importance of selecting the right executor or trustee and keeping wills updated is emphasized due to the complexities of modern estate administration and changing circumstances.

This podcast explores the recent rise in annuity sales, particularly fixed annuities, despite their historical unpopularity. This episode analyzes potential reasons for this shift, such as concerns about Social Security's viability and market volatility, and discusses the complex variety of annuity products available. It also emphasizes the need for estate planning attorneys to understand the basics of annuities and their potential role in estate planning, while recognizing the limitations of their expertise and recommending clients seek advice from specialists for product-specific decisions.

This episode, based on the National Law Review "Estate Planning for Education: Considering Family Welfare Holistically," provides a comprehensive overview of different strategies for funding education through estate planning. Willie and Trusty emphasize the multifaceted benefits of educational investment and highlight its ripple effects across generations and social networks. The source explores various tax-advantaged approaches including direct tuition payments, 529 plans, prepaid tuition programs, and Coverdell Education Savings Accounts, while also discussing the benefits and limitations of using trusts for education. It emphasizes that the optimal approach often involves a combination of these methods, tailored to individual family needs and aspirations.

This in-depth podcast (37 minutes) is a legal practitioner's guide to the complexities of charitable endowments, explaining the different perspectives on endowments (donor, accounting, and legal). It focuses primarily on the legal framework established by the Uniform Prudent Management of Institutional Funds Act (UPMIFA) of 2006, detailing its modern portfolio theory approach to investment, outlining common misconceptions and corrections, and providing guidance on the creation and management of true endowments. The guide also addresses how to modify endowment restrictions, enforcement mechanisms, accounting considerations, and best practices for legal counsel in navigating the legal and practical challenges of managing charitable endowments.

This podcast episode explores the complex world of Donor-Advised Funds (DAFs), examining their legal framework, growing popularity, and the contentious debate surrounding their distribution practices. The article highlights the contrasting approaches of commercial DAFs, prioritizing efficiency and accessibility, and community foundations, emphasizing local engagement and expertise. It further examines the advantages and disadvantages of DAFs compared to other charitable giving vehicles, ultimately concluding that advisors must tailor giving strategies to individual client objectives while considering both tax efficiency and charitable impact.

This episode discusses the use of Retrieval-Augmented Generation (RAG) technology in legal applications, particularly for smaller law firms. RAG systems combine large language models (LLMs) like ChatGPT with the ability to retrieve information from a firm's internal databases, which enhances the accuracy of legal responses by reducing the risk of "hallucination" or fabricated information. The podcast explores the advantages and disadvantages of using open-source LLMs for RAG systems, highlighting the benefits of local deployment for privacy and cost-effectiveness while acknowledging potential limitations in generalization and consistency.