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

In the latest episode of Advance Your Wealth, we explore how tax-aware investment strategies can enhance your long-term wealth planning. While we've previously covered preparing for a business exit and transitioning wealth to heirs and charitable causes, today’s focus is on Private Placement Life Insurance (PPLI)—a powerful tool long utilized by billionaire families and Single Family Offices to mitigate taxes on investment portfolios.

The exciting news? Thanks to advancements in technology and expert guidance, PPLI is now more accessible than ever. Join Homer as he breaks down how this strategy works and how it could be a valuable addition to your financial plan.

Chapters:

0:00 - Introduction

1:49 - What is Private Placement Life Insurance?

6:55 - The industry issues surrounding life insurance

12:22 - The disadvantages of PPLI

19:54 - How to get in touch with Homer's team

22:18 - Closing remarks

In this episode of Advance Your Wealth, we dive deep into the challenges of scaling a business and how to navigate the common pitfalls entrepreneurs face. Joining us is Joe Shrutz, Chief Operating Officer of the PSBLTY Company, who brings a wealth of experience and actionable insights.

Joe shares his expertise on the biggest mistakes business owners make when attempting to scale, from operational inefficiencies to misaligned growth strategies. Together, we explore how to balance ambitious goals with sustainable practices, the importance of building the right team, and the critical role of clear communication during periods of rapid change.

Whether you’re preparing to scale your business or currently navigating the growth phase, this episode is packed with practical advice to help you avoid costly missteps and achieve long-term success.

Chapters:

0:00 - Introduction

1:41 - Growth vs. Scale

9:07 - Distractions

17:47 - Employees thinking like owners

22:20 - Scaling successfully

26:24 - Complimentary Growth Session

28:04 - Closing remarks

On the latest episode of Advance Your Wealth, we dive into the market’s reaction to the recent election results, exploring whether the response was in line with expectations or presented surprises. We discuss the reduced pre-election volatility, the modest post-election market increases, and what this might signal for future trends.

Our conversation delves into the anticipated economic and policy changes under a Trump administration with a Republican-controlled Congress. Key topics include:

• Extensions to Trump-era tax reforms, including the 199A Qualified Business Income Deduction and corporate tax rates.
• Potential adjustments to estate tax exemptions and their implications for wealth management.
• The future of Opportunity Zones and how they might evolve.
• The administration’s strategy for funding tax cuts, including proposed tariffs and their potential economic impacts.

We close by addressing how to navigate these complex changes. Our guest, Homer, shares strategies for cutting through the noise and helping clients make informed decisions during major transitions.

Chapters:

0:00 - Introduction

1:53 - The stock market's response

4:11 - Notable tax law changes

9:21 - Estate tax exemptions

11:50 - Trump's plan to pay for tax cuts

15:21 - Dealing with uncertainty

18:00 - How to contact Homer and his team

18:54 - Closing remarks

Many families have plans to pass along some of their wealth to children and grandchildren. But what about passing on financial values, a sense of purpose and possibility, and other family legacy concerns?

On the latest episode of Advance Your Wealth, we’re taking a look at how legacy planning can potentially help both the people transferring their wealth and the people receiving it.

Chapters:

0:00 - Introduction and overview on the topic of the day

1:06 - Estate planning and wealth planning conversations don't go far enough

2:56 - What can we learn from the ultra-wealthy families out there?

4:15 - Addressing the tension created in these moments

5:52 - Steps to instill values before transferring wealth

7:09 - The importance of discussing wealth a lot over time

9:11 - Advice on getting these important conversations started

11:29 - Steps you can take to begin discussing values and living them

14:17 - What if you have a very large family?

17:41 - How to get in touch with Homer's team

18:37 - Closing remarks

In this episode of Advance Your Wealth, Homer Smith sits down with financial expert Guy Ridout to discuss "The Costly Threats and Untapped Opportunities of Managing Your Company's 401k." Together, they explore the often-overlooked challenges and risks businesses face when managing 401k plans, including hidden fees, regulatory pitfalls, and fiduciary responsibilities. But it’s not all about the threats—Guy also shares valuable insights into the untapped opportunities that can benefit both employers and employees, from improving plan performance to boosting employee retention.

Whether you're a business owner, executive, or plan administrator, this episode provides essential knowledge on how to protect your company's 401k from costly mistakes and maximize its potential for long-term success. Tune in to learn how proactive 401k management can be a powerful tool for your business and your employees' financial futures.

Chapters:

0:00 - Introduction and overview on the topic of the day

2:59 - Identifying Threats in 401K Planning

5:48 - Compliance Challenges in 401K Plans

8:50 - Employee Perception and Engagement with 401K Plans

11:57 - Unlocking Opportunities

15:00 - The Role of Financial Advisors in 401K Management

17:50 - Real World Applications and Success Stories

21:05 - Closing remarks

Connect with Homer Smith:

Facebook

LinkedIn

Website