Protect Your Family, Mitigate Taxes and Preserve Your Wealth with Patrick Hicks and Mani Mahadevan

#62: Estate Planning experts Patrick Hicks from Trust & Will and Mani Mahadevan from Valur join me to discuss all the fundamentals of estate planning and what you need to do to protect yourself and your family. We also dig deeper into advanced tactics commonly used by high net worth families to mitigate taxes, grow their savings and preserve their wealth for the future. Patrick Hicks, J.D. LL.M. is Head of Legal with Trust & Will, serving as their General Counsel overseeing all attorney-related operations, including regulatory efforts and legal affairs. Mani Mahadevan is the Founder and CEO of Valur a company created to help entrepreneurs and investors keep more of their hard-earned gains. Full show notes at: https://allthehacks.com/estate-planning-patrick-hicks-mani-mahadevan   Partner Deals Vuori: 20% off the most comfortable performance apparel I've ever worn Athletic Greens: Free 1 year supply of Vitamin D and 5 free travel packs Trustworthy: 20% off The Family Operating System® Daffy: Free $25 to give to the charity of your choice For all the deals, discounts and promo codes from our partners, go to: allthehacks.com/deals   Resources Mentioned Connect with Patrick: Twitter | Instagram | LinkedIn | Website Connect with Mani: Twitter | LinkedIn | Website All the Hacks Newsletter: Protecting Your Family with Estate Planning (what you need to know and do) Trust & Will: Get 15% off any estate plan at Trust & Will Valur: Get 3 months of trust administration free when you mention All the Hacks during signup Valur Blog Posts Valur Charitable Remainder Trust Guide Tax Planning Guide for Employees Save on taxes even if you have already realized your income Valur Crypto Tax Planning Guide Trusts 101   Full Show Notes  (1:34) Will Essentials and Relevance (04:37) Unplanned Demise: Consequences of No Will (09:00) Debts and Liabilities: Posthumous Impact (10:53) Will vs. Estate Plan: Core Distinction (12:07) Health Documents and Their Crucial Role (16:42) Revocable Living Trust: Benefits and Comparison (19:59) Navigating Probate: Process and Expenses (25:16) Templates vs. Attorneys: Choosing Assistance (29:10) Trust Advantages: Beyond the Basics (30:48) Trustee Responsibilities: Admin and Finance (37:04) Conversations with Estate Managers (38:58) Plan Updates: Staying Current (40:09) Secure Document Storage: A Must (41:30) Safeguarding Your Legacy: Patrick's Insights (44:29) Trust & Will Exclusive Deal for All the Hacks (46:20) Tax and Estate Planning Overview (49:43) Charitable Remainder Trusts: Purpose and Tax Benefits (54:48) Investment Restrictions in Charitable Trusts (58:02) Estate Tax Minimization: Grantor Retained Annuity Trusts (1:04:26) Tax Strategy: Navigating High-Income Years (1:11:30) ILITs: Tax Opportunities and Beyond (1:13:41) Chris' Life Insurance Wisdom (1:16:17) Estate Planning Tactics: Three Key Approaches (1:19:25) Stretch IRAs, Secure Act, and Tech Innovations (1:25:01) Valur's Accessible Estate Planning Endeavors   Connect with All the Hacks All the Hacks: Newsletter | Website | Membership | Email Chris Hutchins: Twitter | Instagram | Website | LinkedIn Editor’s Note: The content on this page is accurate as of the posting date; however, some of our partner offers may have expired. Opinions expressed here are the author's alone, not those of any bank, credit card issuer, hotel, airline, or other entity. This content has not been reviewed, approved or otherwise endorsed by any of the entities included within the post. Learn more about your ad choices. Visit megaphone.fm/adchoices