Radio Pete's Wealth Talk

Pete Williams

This podcast is about everything wealth: from building it to saving it to investing it and ultimately to passing it on through an estate plan. My name is Pete Williams. I have been in the estate and investment business for over 40 years. I would like to share my experiences, provide my knowledge and guide you in the journey from wealth creation through wealth transfer.

Episodes

  1. Jun 11

    Nick Reiner: Trust and Criminal Planning

    Nick Reiner, the son of Rob and Michele Reiner, is in prison and facing trial for the murder of his parents. He is in desperate need of funds to hire an attorney for his defense. His parents set up a trust in 1993 that may provide for attorney's fees. In addition, should he be found guilty, he will not inherit from his parents under California law. All states have similar laws that do not allow a murderer to benefit from a victim. This is an interesting case at the intersection of Estate Planning and Criminal Law.

    13 min

  2. Jun 2

    Estate and Gift Taxes A Primer for Beneficiaries

    Federal Gift and Estate Taxes are applied on the transfer of wealth during life (Gift Tax) or at death (Estate Tax). Beneficiaries should be aware of these taxes as, after all, these and other taxes, ultimately can lower the amount inherited. Since the beneficiary is often left out of the discussions during life, they should have at least some idea about some of the tax-avoidance techniques and ramifications so as to avoid confusion during the estate wind-down process.

    14 min

  3. May 18

    HEMS: How to "skirt" structured payouts

    Often a trust leaves inheritance to beneficiaries in a structured, or delayed, payout instead of an all-at-once payout on the death of the Settlor. But, there is often language in the trust allowing the Trustee to make exceptions in the case of emergencies. This is often found in the "HEMS" language which are payouts for Health, Education, Maintenance and Support.

    18 min

  4. May 7

    Revocable Living Trusts Pt3

    In this episode of Revocable Living Trusts we get into some of the mechanics of trust administration post-death. The named successor trustee steps into the shoes of the decedent Settlor and now manages the trust property. They have a fiduciary responsibility to the beneficiaries of the trust to act in good faith and with proper capability. The trustee must perform valuations of property, accountings to the beneficiaries, assure that taxes are paid - both pre- and post- death.

    43 min

  5. May 7

    Revocable Living Trusts Pt2

    Continuation of a discussion of RLTs. In this episode we look at some of the terms and tax ramifications of the trust. While the trust is under the control of the Settlor/Creator while they are alive and well, it is important for a beneficiary to know why certain terms are included which might affect their ultimate inheritance.

    15 min

  6. May 7

    Revocable Living Trusts Pt1

    This episode introduces the Revocable Living Trust ("RLT") which is often the centerpiece of modern estate plans. I talk about how they are created and who the parties are in this three-party entity.

    17 min

  7. Apr 23

    Testamentary Trusts

    The episode explores the concept of a testamentary trust, its creation, structure, duration, distribution, comparison with living trust, and tax ramifications. It provides insights into the purpose, benefits, and legal aspects of testamentary trusts. Takeaways Testamentary trusts are created through wills and provide a structured way to hold and distribute assets for beneficiaries.Understanding the tax implications and differences between testamentary trusts and living trusts is crucial for estate planning. Chapters 00:00 Introduction to Testamentary Trust07:05 Distribution and Payouts from Testamentary Trust12:19 Tax Ramifications of Testamentary Trust

    12 min

  8. Apr 2

    Probate: What Goes On Pt 3

    We wrap up talking about the probate process and point out that the beneficiary has a right to question or protest actions by an Executor or Administrator; but, that it must be done very carefully.

    12 min

  9. Mar 28

    Probate: What Goes On Pt 2

    In this Episode of "Books for Beneficiaries" we delve into the specifics of what goes on in a Probate once an Executor/Administrator has received their charging orders ("Letters"). Consolidating assets, identifying and paying debts, taxes and filing an Accounting to the court.

    14 min

  10. Mar 19

    Probate: How Did I Get Here? Pt 1

    Probate. Part 1 of a series on navigating the probate process. In this first of the series, we introduce terms and how the Executor (or Administrator) acquires their power to handle a probate estate.

    15 min

  11. Mar 19

    Pour Over Will: What is it?

    In this episode we drill down to explain some of the nuanced lingo of financial and estate planning. Today we ask "What is a 'Pour Over Will', a term that when you first hear it may not be immediately obvious. If you are confused, I hope this quick explanation can clear thing up.

    6 min

  12. Feb 13

    BUY BORROW DIE

    The conversation explores how the wealthy make a living, focusing on the buy, borrow, die strategy as a wealth preservation and tax minimization approach. It delves into the buy phase, borrow phase, and die phase, highlighting the advantages and implications of each. Takeaways Wealthy individuals live off their capital, not their labor.The concept of buy, borrow, die is a wealth preservation and tax minimization strategy.

    12 min
  • 12 Episodes

About

This podcast is about everything wealth: from building it to saving it to investing it and ultimately to passing it on through an estate plan. My name is Pete Williams. I have been in the estate and investment business for over 40 years. I would like to share my experiences, provide my knowledge and guide you in the journey from wealth creation through wealth transfer.

Information

  • Creator
    Pete Williams
  • Years Active
    2025 - 2026
  • Episodes
    12
  • Rating
    Clean
  • Copyright
    © 2025 Pete Williams