Wealth and Law

Brent chats with Steve Gorin about the Beneficiary Deemed Inheritor’s Trust (BDITs). 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.

Steve Gorin in a Partner at Thompson Coburn LLP. Steve crafts estate plans for individuals, keeping in mind their financial security and desire to save income and estate tax. In his work for businesses, Steve helps owners plan for the eventual sale (to co-owners, employees, or third parties) or transfer (to family members), and provides a legal framework for an orderly transition while strategically saving income, transfer, and FICA taxes.

Drawing on his background as an accountant — and his still-current CPA license and Chartered Global Management Accountant credential — Steve structures businesses to achieve business objectives and save income or estate tax. He has helped fledgling businesses organize, thriving businesses restructure to save hundreds of thousands of dollars of income tax when planning a transition to the next ownership group, and mature multi-million or billion-dollar businesses plan tax-saving transfers to the next generation.

Over the course of his 30-year career, Steve has amassed a deep knowledge of nearly every aspect of tax strategy for privately held businesses and freely shares that knowledge with others in the field. His quarterly newsletter, “Business Succession Solutions,” is considered essential reading for hundreds of CPAs and attorneys, who describe it as “a fantastic contribution to the field.” Steve also maintains a blog, Business Succession Solutions, intended to help business owners — and those who advise or support them — consider smart tax strategies.

Steve is a highly visible member of the ABA’s Real Property, Trust & Estate Law Section and the American College of Trust & Estate Counsel, which regularly directs its members to Steve’s quarterly newsletter. He has represented both groups in comments to the IRS, the U.S. Treasury, and tax lawmakers.

You can learn more about Steve here: https://www.thompsoncoburn.com/people/steve-gorin. You can sign up for Steve’s newsletter here: https://www.thompsoncoburn.com/insights/blogs/business-succession-solutions/about.

This material is for informational purposes only. The views expressed are those of the speaker as of the date noted and not necessarily of the speaker’s firm or its affiliates.

If you are enjoying the podcast please SUBSCRIBE and leave a REVIEW, and if you want to learn more about Brent go to https://wealthandlaw.com/team/.

Legal Disclaimer: https://wealthandlaw.com/legal-disclaimer/

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.

Cody Cassidy, CFP®, is an advisor and a Shareholder at TCI Wealth Advisors. He works with multiple teams to deliver research/analysis and strategic planning tools for clients.

Cody has worked across a number of sectors, both public and private, including politics, health care, higher education and finance. He earned his undergrad and graduate degrees from the University of Arizona, and is a proud member of the Wildcat family. By far the most rewarding part of his career has been to join TCI and having the opportunity to help people achieve their life goals.

Cody is passionate about his family, his life and his work. He enjoys spending time with his wife, Ava Clare, and their two children. He also enjoys Tae Kwon Do, weight lifting at the gym, running and reading.

Cody can be found here: Cody Cassidy, CFP® – TCI Wealth

This material is for informational purposes only. The views expressed are those of the speaker as of the date noted and not necessarily of the speaker’s firm or its affiliates.

If you are enjoying the podcast please SUBSCRIBE and leave a REVIEW, and if you want to learn more about Brent go to https://wealthandlaw.com/team/.

Legal Disclaimer: https://wealthandlaw.com/legal-disclaimer/

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.

Justin Miller is a partner and the national director of wealth planning at Evercore Wealth Management, counseling advisors and clients on complex taxation, trusts and estates, charitable planning and family governance issues. He additionally serves as a senior wealth and fiduciary advisor at the San Francisco office of Evercore Wealth Management and Evercore Trust Company NA.

Prior to joining Evercore in 2021, Mr. Miller was a national wealth strategist for 10 years at BNY Mellon. He previously was a managing director at Wells Fargo and began his career as a tax attorney at Sidley Austin.

Mr. Miller is an adjunct professor at Golden Gate University School of Law, a fellow of the American Bar Foundation, and a fellow of the American College of Trust and Estate Counsel. He has served in leadership positions with the American Bar Association, California Bar Foundation, San Francisco Estate Planning Council and State Bar of California, and is a former editor-in-chief of California Tax Lawyer. Additionally, he is a past recipient of the Outstanding Conference Speaker Award from the California Society of CPAs and the V. Judson Klein Award from the California Tax Bar.

Mr. Miller earned a B.A. with honors from the University of California, Berkeley and a J.D. and LL.M. in taxation from New York University School of Law. He holds the accredited estate planner designation, and is a certified financial planner and a member of the State Bar of California.

You can find Justin here Justin Miller – Evercore

This material is for informational purposes only. The views expressed are those of the speaker as of the date noted and not necessarily of the speaker’s firm or its affiliates.

If you are enjoying the podcast please SUBSCRIBE and leave a REVIEW, and if you want to learn more about Brent go to https://wealthandlaw.com/team/.

Legal Disclaimer: https://wealthandlaw.com/legal-disclaimer/

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.

This material is for informational purposes only. The views expressed are those of the speaker as of the date noted and not necessarily of the speaker’s firm or its affiliates.

If you are enjoying the podcast please SUBSCRIBE and leave a REVIEW, and if you want to learn more about Brent go to https://wealthandlaw.com/team/.

Legal Disclaimer: https://wealthandlaw.com/legal-disclaimer/

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.

Naomita Yadav is a partner in the private client and tax team of Withersworldwide. She has a diverse and well-rounded tax background, including experience in both income tax and estate and gift tax matters, which makes her particularly suited for families with existing complex trust structures. She also has experience with cross-border families as well as nuances of visa designations and the interplay with tax laws. Interestingly, her own family is situated in three continents.

Naomita advises families with generational wealth in the context of changing circumstances and passage of time such as multi-generation wealth planning for family members who are beneficiaries of trusts settled by prior generations. This particular mix of experiences and knowledge enables Naomita to act as a proficient adviser for the globally mobile high net worth family. She also advises clients on tax, estate and succession planning related to cryptocurrencies and digital assets.

Naomita received her bachelor’s degree from Yale, her MBA from the University of Michigan, and her juris doctorate from the University of Michigan Law School.

Naomita can be found here Naomita Yadav | Private client and tax attorney | San Francisco | Withersworldwide

This material is for informational purposes only. The views expressed are those of the speaker as of the date noted and not necessarily of the speaker’s firm or its affiliates.

If you are enjoying the podcast please SUBSCRIBE and leave a REVIEW, and if you want to learn more about Brent go to https://wealthandlaw.com/team/.

Legal Disclaimer: https://wealthandlaw.com/legal-disclaimer/

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.

Chris Siegle is a Managing Director and Senior Wealth Advisor in the Scottsdale, Arizona office of J.P. Morgan Private Bank. With his strong legal and tax background, he and his team provide successful individuals, families and organizations with creative strategies for investing, tax and estate planning, and family business succession issues. His focus on family circumstances and grantor intent adds depth to every conversation.

Chris’s advice on family dynamics, wealth preservation and individualized legal structures is sought throughout the West. He speaks and writes frequently on tax planning, charitable giving, investments and advanced estate planning strategies. He has presented to the Arizona State Bar Tax Section, the USC Tax Institute, the Maricopa County Bar Association, the Collier County Bar Association, Valley Estate Planners, Arizona Community Foundation, and he has appeared at numerous seminars and panels for professional groups.

Chris joined J.P. Morgan in 2010 after practicing law in Arizona for more than 13 years, during which he focused in trusts and estates, employee benefits and corporate transactions. His legal experience as a member of the State Bar of Arizona and the Maricopa Country Bar Association helps him collaborate with his client’s tax and legal advisors.

Chris earned his J.D. (with Honor), from the University of Tulsa College of Law, his M.S.S. from The United States Army War College, and an LL.M. from Villanova University School of Law. He received his A.B. from the University of Illinois at Urbana-Champaign. During his study at the University of Tulsa Law School, he was an articles editor for the Tulsa Law Journal.

Active in his community and imbued with a strong sense of responsibility and leadership, Chris is a Captain (retired) in the U.S. Navy, having served from 1990-2020. He is a member of the Professional Advisory Boards of the Arizona Community Foundation and the Catholic Community Foundation in Phoenix. He also devotes time to the Maricopa County Bar Association, Central Arizona Estate Planning Council and other professional organizations.

Chris can be found here Chris Siegle | J.P. Morgan Private Bank U.S. (jpmorgan.com)

This material is for informational purposes only. The views expressed are those of the speaker as of the date noted and not necessarily of the speaker’s firm or its affiliates.

If you are enjoying the podcast please SUBSCRIBE and leave a REVIEW, and if you want to learn more about Brent go to https://wealthandlaw.com/team/.

Legal Disclaimer: https://wealthandlaw.com/legal-disclaimer/

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.

Toni Ann Kruse is a Partner at McDermott Will & Emery who has a broad-based estate and wealth transfer planning practice in New York. She advises ultra-high net worth individuals and families on estate, gift and generation-skipping transfer tax issues, trust and estate administration, state fiduciary income tax planning, and charitable gifting, as well as contested trust and estate matters. She has significant experience working with multinational clients on structuring efficient ways to benefit US persons as well as inbound and outbound planning opportunities. Toni Ann regularly works with family companies, advising on governance and succession issues between generations; drafts and administers complex estate plans; implements leveraged lifetime wealth transfer techniques; and counsels fiduciaries in complex trust and estate administration matters, often involving various asset classes across several jurisdictions.

Toni Ann has published articles in publications such as Trusts & Estates Magazine, Bloomberg Tax, Law360, and the New York Law Journal. She regularly speaks at estate planning conferences on various topics and has been quoted in the Wall Street Journal, Forbes, and Reuters as an industry expert.

Toni Ann can be found here: Toni Ann Kruse – McDermott Will & Emery (mwe.com)

This material is for informational purposes only. The views expressed are those of the speaker as of the date noted and not necessarily of the speaker’s firm or its affiliates.

If you are enjoying the podcast please SUBSCRIBE and leave a REVIEW, and if you want to learn more about Brent go to https://wealthandlaw.com/team/.

Legal Disclaimer: https://wealthandlaw.com/legal-disclaimer/

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.

This material is for informational purposes only. The views expressed are those of the speaker as of the date noted and not necessarily of the speaker’s firm or its affiliates.

If you are enjoying the podcast please SUBSCRIBE and leave a REVIEW, and if you want to learn more about Brent go to https://wealthandlaw.com/team/.

Legal Disclaimer: https://wealthandlaw.com/legal-disclaimer/

This is Episode 200!! Thank you to all the listeners, subscribers, guests, and friends who have made the podcast what it is!

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.

This material is for informational purposes only. The views expressed are those of the speaker as of the date noted and not necessarily of the speaker’s firm or its affiliates.

If you are enjoying the podcast please SUBSCRIBE and leave a REVIEW, and if you want to learn more about Brent go to https://wealthandlaw.com/team/.

Legal Disclaimer: https://wealthandlaw.com/legal-disclaimer/

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.

This is a continuation of our series about the alphabet soup of different irrevocable trusts that may be very important in the lead up to 2026.

Naomita Yadav is a partner in the private client and tax team of Withersworldwide. She has a diverse and well-rounded tax background, including experience in both income tax and estate and gift tax matters, which makes her particularly suited for families with existing complex trust structures. She also has experience with cross-border families as well as nuances of visa designations and the interplay with tax laws. Interestingly, her own family is situated in three continents.

Naomita advises families with generational wealth in the context of changing circumstances and passage of time such as multi-generation wealth planning for family members who are beneficiaries of trusts settled by prior generations. This particular mix of experiences and knowledge enables Naomita to act as a proficient adviser for the globally mobile high net worth family. She also advises clients on tax, estate and succession planning related to cryptocurrencies and digital assets.

Naomita received her bachelor’s degree from Yale, her MBA from the University of Michigan, and her juris doctorate from the University of Michigan Law School.

Naomita can be found here Naomita Yadav | Private client and tax attorney | San Francisco | Withersworldwide

This material is for informational purposes only. The views expressed are those of the speaker as of the date noted and not necessarily of the speaker’s firm or its affiliates.

If you are enjoying the podcast please SUBSCRIBE and leave a REVIEW, and if you want to learn more about Brent go to https://wealthandlaw.com/team/.

Legal Disclaimer: https://wealthandlaw.com/legal-disclaimer/