Strategies For Your Wealth #144

Simply Tax

An optimal family wealth strategy is holistic and combines both investment and estate planning strategies. Do you know when and where to start? Host Damien Martin unpacks the important but often daunting task of planning for your wealth with BKD’s Troy Farmer. Here are the questions they cover:

• Who is Troy Farmer? [01:48]
• What is a wealth strategist and why work with one? [04:00]
• How does estate planning play a role in wealth strategy? [07:28]
• What are the key decisions you need to make and when? [09:02]
• How do I know if a planning technique makes sense for my family? [11:55]
• What’s a Grantor Retained Annuity Trust? [15:14]
• What’s a Spousal Lifetime Access Trust? [17:54]
• Should I be concerned about outliving my wealth? [20:12]
• Are there risks to consider when implementing a wealth strategy? [21:41]
• What are some frequent questions you answer? [22:30]
• How do you educate the next generation and get them ready to inherit wealth? [27:55]
• What are some actual stories of those who have implemented a wealth strategy? [31:37]
• What should I expect in terms of timing and involvement? [38:13]

Learn more about Troy here and check out the Beyond the Numbers with Troy Farmer video on our YouTube channel mentioned in the episode.

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