As we step into 2025, wealthy families and their advisors are already looking ahead to major potential changes in estate and gift tax laws. With key provisions of the 2017 Tax Cuts and Jobs Act set to expire at the end of this year, many are wondering: What does this mean for estate planning?

In this episode, we break down the possible changes that could take effect on January 1, 2026, and explore strategies to prepare for an uncertain tax landscape. Should you accelerate your gifting? Are certain trusts a smart move? How can stress testing your estate plan help mitigate risk?

Join us as we navigate these questions and provide insights to help you protect and optimize your wealth transfer strategy—no matter what lies ahead.

Chapters:

0:00 - Introduction

1:40 - Are tax changes coming?

8:06 - How trusts can be leveraged here

13:33 - Key takeaways

16:21 - Closing remarks

As more baby boomer business owners reach the age of selling and many entrepreneurs recover from pandemic setbacks, the urgency to execute business transactions has never been greater. However, only a small percentage of owners achieve a truly successful exit.

In this episode of Advance Your Wealth, we explore the three critical factors that determine whether a sale will meet expectations: Is the Business Ready? Is the Market Ready? Is the Owner Ready?

Homer delves into financial readiness, market conditions, and the often-overlooked mental and emotional preparation required to transition smoothly. If you’re a business owner contemplating an exit, this episode is packed with actionable insights to help you optimize your strategy and secure the best outcome.

In the latest episode of Advance Your Wealth, Homer Smith explores the complexities of using an earn-out when selling a business. He breaks down how this strategy works, the key benefits—such as maximizing sale value and easing the transition for both buyer and seller—as well as the potential risks, including delayed payments and unforeseen challenges.

Whether you're a business owner preparing for an exit or simply looking to better understand this financial tool, Homer provides expert insights to help you make an informed decision. Tune in for a deep dive into the pros and cons of earn-outs and how they might fit into your business transition strategy.

Chapters:

0:00 - Introduction

1:30 - What is an Earn-Out?

4:58 - Is an Earn-Out a good fit for you and your business?

11:22 - The level of complexity with Earn-Outs

14:01 - Key takeaways

17:05 - Closing remarks