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Podcast 178 – Funny Tales and Effective Tactics from an Estate Planner!

Funny Tales and Effective Tactics from an Estate Planner!

We had the honor today of hosting Christopher Burns, partner with Henson and Efron Law Firm. Christopher's practice primarily focuses on Estate and Tax Planning, and he advises and counsels owners of privately held companies on how best to reduce their tax liability and increase their peace of mind by orchestrating comprehensive estate planning techniques and strategies and facilitating tough conversations between owners and family members.

Now that was a mouthful, so where do we start? Christopher says it all starts with a plan. Whether you currently have a plan that needs updating, or you've never had a plan, documenting your wishes and making them known alleviates more problems and conflict than you can imagine, not to mention the money saved in unnecessary taxes. If so much is at stake, then why do we resist doing it? Do you know anyone who avoids talking about death like the plague? If you have ever been involved in an estate situation where no planning had been done, you know how arduous, painful, time wasting and contentious these situations can be. Enough said; if I just described something that resonates with you, then let's vow to check it off our 2024 list as soon as possible. 

There are many strategies that owners can implement to avoid long and expensive probate, and paying more to the IRS than necessary. Christopher says that what works for one owner, doesn't always work for another, so it's essential that you begin the planning process well in advance of any liquidity event, especially if you live in a state like MN and plan to move your residence to a tax friendly state. As Christopher says, it's like Hotel California in MN; you can check out but it's very difficult to leave and the look back on tax saving strategies starts with a minimum of three years out. 

The knowledge, expertise and counsel Christopher imparts and embodies are invaluable!

Contact Christopher here and Julie here

We shared some pretty good laughs around such a dry topic! Listen to the episode here

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Julie Keyes
Julie Keyes

Founder & Owner at KeyeStrategies, LLC

Julie is a Certified Exit Planning Adviser and Value Growth Advisor with 30+ years of experience. She works with business owners who seek to understand and maximize their exit and critical transition options.

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