Ep018: Exploring the Optimized Gift Trust

On this edition of the HABU Accelerator Podcast, we sit down with Jonathon Morrison who provides knowledge on navigating the complex landscape of estate and gift tax planning as it relates to current events and forecasted changes.

Jonathon guides us through ongoing tax law transitions and characteristics of those most impacted. We conclude by exploring synergies within the Optimized Gift Trust that advance traditional concepts through additional protective layers.

Clarity is brought to risks of less experienced advisors for high net worth clients.

Looking ahead, our HABU conference promises deeper dialogue on these sophisticated techniques.

SHOW HIGHLIGHTS

• Jonathon Morrison, a senior partner at Fraser, Ryan, Goldberg, and Arnold, joins me to demystify the intricacies of estate and gift tax planning in anticipation of forthcoming changes.
• We delve into the urgency to capitalize on current generous exemptions that may decrease due to the scheduled sunset of the 2017 Tax Act by 2026.
• The Optimize Gift Trust is introduced as an innovative estate planning tool that offers a solid defense against IRS challenges and has been well-received by CPAs and clients.
• Jonathon explains the potential legislative changes, including the Build Back Better Bill, and the importance of grandfathering clauses in protecting existing estate plans.
• We highlight the need for rapid execution of estate plans in response to possible reductions in gift tax exemptions and the impact of rising interest rates.
• The discussion outlines the ideal client for these advanced estate planning techniques—individuals or couples with a net worth starting around $10 million.
• He unravels the synergy of the Optimized Gift Trust, combining various IRS-approved mechanisms to maximize a client's access and control while providing creditor protection and estate tax exemptions.
• Emphasizing the need for expertise in high-net-worth estate planning, we discuss the risks of working with less experienced attorneys.
• Jonathon shares his personalized approach to trust planning, including engaging with CPA firms, utilizing dynamic financial models, and the advantages of a flat fee structure for legal services.
• We invite listeners to join us at the upcoming HABU conference for in-depth discussions on these sophisticated estate planning techniques.

LINKS

Show Notes

About Optimized Gift Trust

GUESTS

Jonathon Morrison

TRANSCRIPT

(AI transcript provided as supporting material and may contain errors)

Jeff: On this edition of the Advisory Accelerator podcast, we welcome back our friend, Jonathon Morrison, senior partner at Fraser, Ryan, Goldberg and Arnold, who's going to help us navigate the incredibly complex world of estate and gift tax and discuss the optimized gift trust and how his firm partners with CPAs to help their clients optimize their estate plans. Take a listen to learn more about what it takes to accelerate your firm's advisory practice. Well, hello again everybody. This is Jeff Palow, and I am the president of the Engineered Advisory family of companies and your host for the Advisory Accelerator podcast, a show that works to help CPAs become more advisory-minded in their practices. On today's show, I'm happy to welcome back our friend, Jonathon Morrison, who is a senior partner at Fraser, Ryan, Goldberg and Arnold, and he's going to help us continue to navigate the incredibly complex world of estate and gift tax planning. As CPAs, I'm sure you've had clients who have turned to you for advice in this incr