Tag Archives: Estate Planning

Case Study: Don’t Let Procrastination Hinder Your Generational Estate Planning (Ep. 94)

November 9, 2022Finance, Financial, Financial Planning, Truth, WealthAsset Protection, Assets, Copper Beech Financial Group, Estate Planning, Family Business, Family Wealth, Generational Estate Planning, Generational Wealth, Inheritance, John and Michael Parise, Liquidity, Podcast, Tax Exposure, The Truth About Wealth, Wealththetruthaboutwealth

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They say, “an ounce of prevention is worth a pound of cure.”

When families procrastinate with advanced estate planning, it can jeopardize the success of the next generation and their assets.

In this episode of The Truth About Wealth, John and Michael Parise share a case study that illustrates how they’ve been helping one particular family with their estate planning. Listen in as John and Michael describe their process of minimizing generational taxes by 80% and preparing the next generation to inherit the family business.

John and Michael discuss:

Ways Copper Beech approaches this case study and clients focused on estate planning
The estate planning options they suggest for asset protection
How families can reduce and protect themselves from estate tax exposure
How to effectively prepare the next generation to inherit the family business and/or assets
The role of trusts and liquidity when it comes to estate planning
And more!

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How to Pay for Estate Taxes (Ep. 81)

May 4, 2022Finance, Financial, Financial Planning, Truth, WealthCopper Beech Financial Group, Estate Planning, Estate Taxes, Federal Taxes, Financial Advisor, Financial Planning, John and Michael Parise, The Truth About Wealth Podcastthetruthaboutwealth

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If you are set to have an estate tax, how might that tax get paid? Can we get that tax to zero?

In this episode, John and Michael discuss their approach to estate taxes. In their approach, taxes are voluntary and planning is essential to ensure your loved ones have a plan and the means to pay for estate taxes when the time comes.

John and Michael discuss:

The best and worst ways to pay your estate taxes
Section 6166 for business exclusions on estate taxes
Gregan loans and how they can reduce your estate tax
The importance of starting early when it comes to planning
And more

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How to Choose the Right Trustee with David Warren (Ep.75)

February 9, 2022Finance, Financial, Financial Planning, Truth, WealthAsset Protection, Copper Beech Financial Group, Estate Planning, John and Michael Parise, Modern Law, South Dakota, The Truth About Wealth Podcast, Top Tier Trust Jurisdictions, Trust Company, Trust Planningthetruthaboutwealth

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When estate planning, one of the most difficult decisions is choosing the right trustee for your family. But it doesn’t have to be.

In this episode, John and Michael Parise speak with David Warren, J.D., co-founder, and chairman of Bridgeford Trust Company about the challenges of picking the right trustee and/or trust company, and highlights the things you can do to make a better decision for your family.

John and Michael discuss:

Conflicts of interest in trust planning
Top tier trust jurisdictions
Modern trust law
Asset protection and its benefits
And more

Resources

Bridgeford: Objective Chart Comparing “Top Tier” Trust Jurisdictions

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About Our Guest:

David Warren is the co-founder and chairman of the Board of Bridgeford Trust Company. With over 20 years of experience as an attorney in the financial services industry, David has a wealth of knowledge on working with ultra-high net worth families across the nation and around the world. As a leader at Bridgeford Trust Company he shapes the strategic growth and brand development. Outside of his roles at Bridgeford, David often speaks throughout the country and around the world on modern and progressive U.S. trust law, addressing several professional organizations and audiences each year.

73. 10 Concerns On The Minds of Our Clients — Part 2

January 12, 2022Finance, Financial, Financial Planning, Truth, WealthClient Concerns, Communication, Copper Beech Financial Group, Estate Planning, Generational Planning, John and Michael Parise, Long-Term Care Planning, Taxes, The Truth About Wealth Podcastthetruthaboutwealth

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Who is going to take care of you into your old age? Do you have your estate planning dealings worked out?

In the first part of this two-parter miniseries, John and Michael introduced us to 10 concerns on the minds of their clients. In this episode, they continue the conversation focusing on long-term care planning, estate planning, taxes, and communication between generations.

John and Michael discuss:

Ways to address long-term care
How to ensure your estate planning is correct
Tax code changes to consider
Communication between generations in your family
And more!

Resources:

10 Concerns On The Minds of Our Clients — Part 1

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69. Estate Planning Law Proposals You Should Be Thinking About

November 17, 2021Finance, Financial, Financial Planning, Truth, WealthAdvanced Estate Planning, Copper Beech Financial Group, Estate Planning, Grantor Trust, John and Michael Parise, The Truth About Wealth Podcast, Truststhetruthaboutwealth

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There may be changes to estate planning rules in the near future. If you’re a family that looks for advanced planning, you should be preparing for these changes regardless of whether or not they come to pass.

In part two of this two-part series, John and Michael Parise look at potential estate planning changes that could have a massive impact on advanced estate planning.They first look at the potential change in acceleration of the reduction in the gift and estate exemption amount. Plus, Michael speaks on the possible changes to grantor trust rules.

John and Michael discuss:

Why you should be speaking with your advisor about these provisional changes
Potential changes to grantor trust rules
Potential changes to the acceleration of the reduction in estate exemption
Why adding a specialist advisor to your advisory is beneficial
And more

Resources

Income Tax Law Proposals You Should Be Thinking About

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67. Concerns That Are Keeping Everyone Up At Night

October 13, 2021Finance, Financial, Financial Planning, Truth, WealthCopper Beech Financial Group, Estate Planning, Financial Planning, Inflation, John and Michael Parise, Taxes, The Truth About Wealth Podcastthetruthaboutwealth

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There are a number of questions and concerns that clients ask for clarification about, from inflation, to proposed tax changes, how those will impact their accounts, and more.

In this episode, John and Michael Parise have an open discussion about questions they regularly receive from their clients and aim to answer these frequently asked questions. They explain why you need to stay on top of your financial affairs and get them in order, plus, how businesses may have to approach employee retention in the near future.

John and Michael discuss:

How inflation is affecting everything in our lives
Potential tax code changes being proposed in Washington and how they may impact you
Why you need to be on top of your financial affairs
Why employee retention will become increasingly important in the near future
And more

Resources:

Connect with John and Michael:

Copper Beech Financial Group: (856) 988-8300
John Parise
Michael Parise

66. How To Pick The Right Trustee

September 29, 2021Finance, Financial, Financial Planning, Truth, WealthCopper Beech Financial Group, Estate Planning, Family Business, John and Michael Parise, The Truth About Wealth Podcast, Trusteethetruthaboutwealth

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One of the more difficult challenges of estate planning is choosing the right trustee.

In this episode, John and Michael Parise aim to help you gain a better understanding of the implications of choosing a trustee and what to consider when making this decision. They look at what makes choosing a trustee so difficult and what it means to leave someone in charge of managing your family’s assets.

John and Michael discuss:

The role of a trustee and why a trustee should act as a mentor
Their recommendation for what to look for in a trustee and how you can build a relationship and understanding with the trustee before they take control
If trustees can be compensated and whether they should
What it truly means to leave your family in the hands of a trustee (whether they’re another family member or not)
And more

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Episode 56: The Ultimate Episode Guide You MUST Revisit and Listen To

May 12, 2021Finance, Financial, Financial Planning, Truth, Wealth1031 Exchanges, Concerns, Copper Beech Financial Group, Estate Planning, Generations, Highlight Reel, John and Michael Parise, Life Insurance, Succession Plans, Taxes, The Truth About Wealth Podcast, Truststhetruthaboutwealth

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The Copper Beech team is going back to the classics in this highlight reel episode!

In this episode, John and Michael Parise revisit a series of episodes you must listen to in order to help you gain insight to overcome and solve potential concerns about your generational wealth planning.

You will learn:

The importance of estate planning – episodes 14 and 26
All things within the tax world and tax law changes – episodes 27, 36, and 42
Conversations about life insurance – episode 19
Why business owners should revisit their business succession plan – episode 33
Understanding the generational components of trusts – episodes 12 and 13
What you should really know about 1031 exchanges – episode 52
And more!

Listen today and find out why and how all these episodes introduce and talk about things clients are always concerned about!

Resources: Copper Beech Financial Group | John Parise | Michael Parise

Episodes: