Wealth and Law

Nov 15 2024 212 ep. 42 mins 26

Wealth and Law Podcast artwork

The Wealth and Law Podcast is hosted by Brent Nelson, a partner at Rimon, P.C. who practices estate planning, tax, and family business law. The podcast explores how personal wealth intersects with the legal landscape by diving into relevant topics, teaching you what Brent has learned and engaging with guests with deep expertise in their fields.

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Planning With A Non-Citizen Spouse

Nov 15 2024 19 mins

Brent explains some of the challenges of planning when there is a non-US citizen spouse. He dives into the estate tax marital deduction, the gift tax marital deduction, Form 3520, income tax recognition events, and expatriation. He also explains how these issues arise at various generational levels of a family. This material is for informational purposes only. The views express

Basics of Irrevocable Life Insurance Trusts

Oct 23 2024 36 mins

Brent chats with Matt Hochstetler about the basics of irrevocable life insurance trusts (ILITs). They explain what these trusts are, why they are useful, Crummey provisions, and creative planning with life insurance. Matt Hochstetler is a trusts-and-estates attorney practicing in Naples, Florida and Canton, Ohio. His practice serves wealthy families, family offices, and private

Remember THIS in the Last Months of 2024

Oct 10 2024 22 mins

Brent chats about how to think about the US elections, reminds you the CTA beneficial owner reports are due by December 31, 2024, suggests planning based on the laws as they are not as we wish they would be, and spotting important red flags when there are non-Americans in the family tree. This material is for informational purposes only. The views expressed are those of the spe

Basics of Remainder Purchase Marital Trusts

Oct 03 2024 19 mins

Brent chats about the basics of Remainder Purchase Marital Trusts (RPMTs). He explains how they work within the gift tax marital deduction rules. Then he compares them to QTIP Trusts and IDGTs (see our prior episodes about those). Finally, Brent walks through the mechanics of RPMTs and how they can be effective wealth transfer tools. This material is for informational purposes

Basics of Beneficiary Deemed Inheritor’s Trusts

Sep 17 2024 42 mins

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 indivi

The Importance of Family Meetings

Aug 19 2024 23 mins

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 deli

Basics of Spousal Lifetime Access Trusts

Jul 31 2024 36 mins

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, co

The Death of Chevron

Jul 24 2024 25 mins

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

The Many Problems with S Corporations

Jul 17 2024 37 mins

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 Withersworldwi

Basics of Beneficiary Deemed Owner Trusts

Jul 10 2024 31 mins

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