TFE Talks: Navigating Wealth, Business, and Legacy

In this episode of TFE Talks, David Thompson and estate planning specialist Jordan Goewey break down how irrevocable life insurance trusts (ILITs) work and why they matter for high-net-worth individuals. They explain when life insurance can become estate taxable, the concept of “incidents of ownership,” and how moving policies into an ILIT can keep proceeds outside the taxable estate while still providing liquidity for estate taxes, business needs, or family support. The discussion covers basic ILIT structure (trustees, beneficiaries, and policy ownership), the use of Crummey powers and annual gift tax exclusions to fund premiums efficiently, key administration requirements like Crummey notices, the impact of generation-skipping transfer tax, and strategies for transferring existing policies into an ILIT, including sales to avoid the three-year look-back. Listeners come away with a practical understanding of when an ILIT may be appropriate and how it fits into broader estate and tax planning.  Topics in this conversation include:  Are Life Insurance Proceeds Taxable? Income Tax vs Estate Tax (1:36)   Incidents of Ownership and Why They Pull Life Insurance Into Your Estate (3:03)   How an ILIT Owns a Policy and Keeps Proceeds Off Your Balance Sheet (4:00)   Using ILITs to Create Liquidity and a Classic $20M Estate / $2M Policy Example (6:24)   Choosing a Trustee and Why Banks or Trust Companies Can Be Helpful (8:13)   Crummey Trusts, Annual Exclusion Gifts, and Sending Crummey Notices (11:19)   Generation Skipping Transfer Tax and Tracking GST Exemption with ILITs (16:59)   Moving an Existing Policy Into an ILIT and Avoiding The Three Year Look Back (20:53)   When ILITs Make Sense Today and Why Early Planning Adds Flexibility (24:18)   TFE Talks: Navigating Wealth, Business, and Legacy is the official podcast from Thomas, Fisher & Edwards, a premier estate planning and business advising law firm in Greenville, South Carolina. Each episode, our attorneys break down complex legal topics—covering estate planning, business strategy, and legacy building—into clear, actionable insights. Whether you're refining a plan with our team or preparing for the future, this podcast serves as your go-to resource for thoughtful, strategic planning. Tune in for guidance that helps you protect what matters most. Learn more at www.tfelawfirm.com. The information provided in this podcast is for general informational purposes only and should not be considered legal advice. Listening to this podcast does not create an attorney-client relationship with Thomas, Fisher & Edwards or any of its attorneys. Laws and regulations vary, and legal matters are highly fact-specific. For personalized legal guidance, please consult with a qualified attorney. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

In this episode of TFE Talks, David Thompson and Jordan Goewey discuss the essential role of powers of attorney (POA) in estate planning. They explain what a power of attorney is, the difference between financial and health care powers of attorney, and key terms like “durable” and “springing.” The conversation covers broad vs limited financial powers of attorney, how to choose and structure agents (including co-agents and compensation), and why most financial POAs are effective immediately rather than springing. On the healthcare side, they walk through South Carolina’s healthcare power of attorney form, including decisions on organ donation, life-sustaining treatment, and nutrition/hydration, and compare it to a living will, explaining why a healthcare power of attorney is usually the better, more comprehensive tool. The key takeaway is that nearly every adult, young, old, or with college-age children or aging parents, should have both financial and health care powers of attorney in place to avoid court intervention and ensure trusted decision-making in times of incapacity. Topics in this conversation include:  What a Power of Attorney Is and How It Works During Life (1:24)   Durable vs Springing Powers of Attorney Explained (2:25)   General vs Limited Financial Powers of Attorney (5:05)   Choosing Agents, Co‑Agents, and Compensation Issues (6:39)   How a Health Care Power of Attorney Differs From Financial POA (9:43)   Organ Donation, Life‑Sustaining Treatment, and Feeding Tube Choices (11:16)   Living Wills vs Health Care Powers of Attorney in South Carolina (14:34)   Why Almost Everyone Needs Financial and Health Care POAs (17:11)   Powers of Attorney for Adult Children and Aging Parents (17:52)   TFE Talks: Navigating Wealth, Business, and Legacy is the official podcast from Thomas, Fisher & Edwards, a premier estate planning and business advising law firm in Greenville, South Carolina. Each episode, our attorneys break down complex legal topics—covering estate planning, business strategy, and legacy building—into clear, actionable insights. Whether you're refining a plan with our team or preparing for the future, this podcast serves as your go-to resource for thoughtful, strategic planning. Tune in for guidance that helps you protect what matters most. Learn more at www.tfelawfirm.com. The information provided in this podcast is for general informational purposes only and should not be considered legal advice. Listening to this podcast does not create an attorney-client relationship with Thomas, Fisher & Edwards or any of its attorneys. Laws and regulations vary, and legal matters are highly fact-specific. For personalized legal guidance, please consult with a qualified attorney. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

In this episode of TFE Talks, host Jordan Goewey talks with new attorney Maisie Greene about her path from the Chicago suburbs to Wake Forest University, Washington University in St. Louis School of Law, and ultimately to Spartanburg, South Carolina. Maisie explains how her experience at a large St. Louis firm in estate planning and business law prepared her to bring big-firm expertise to a focused practice at Thomas, Fisher & Edwards. They discuss why she’s drawn to estate planning, the direct impact it has on families and business owners, and what excites her about serving the growing Spartanburg market, highlighting her client-centered approach and the firm’s collaborative, process-driven style. Topics in this conversation include:  Welcoming Maisie and Discussing TFE’s Expansion to Spartanburg (0:38) Maisie’s Background: From Chicago to Wake Forest and WashU Law (1:03) Big Firm Experience and Developing a Versatile Estate Planning Practice (2:45) Moving to Spartanburg and Choosing Thomas, Fisher & Edwards (4:02) Why Maisie Loves Estate Planning and Serving Families and Businesses (8:05) Lightning Round: Favorites, Hobbies, and Life in Spartanburg (10:32) Excitement About Spartanburg’s Growth and Community Involvement (13:54) TFE Talks: Navigating Wealth, Business, and Legacy is the official podcast from Thomas, Fisher & Edwards, a premier estate planning and business advising law firm in Greenville, South Carolina. Each episode, our attorneys break down complex legal topics—covering estate planning, business strategy, and legacy building—into clear, actionable insights. Whether you're refining a plan with our team or preparing for the future, this podcast serves as your go-to resource for thoughtful, strategic planning. Tune in for guidance that helps you protect what matters most. Learn more at www.tfelawfirm.com. The information provided in this podcast is for general informational purposes only and should not be considered legal advice. Listening to this podcast does not create an attorney-client relationship with Thomas, Fisher & Edwards or any of its attorneys. Laws and regulations vary, and legal matters are highly fact-specific. For personalized legal guidance, please consult with a qualified attorney. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

In this episode of TFE Talks, attorneys Jordan Goewey and David Thompson discuss the pros and cons of different business entities, focusing on corporations, S corporations, LLCs, and professional associations in South Carolina. They explain key concepts such as corporate formalities, double taxation, S corp election benefits, and unique requirements for professional practices. Listeners will learn essential considerations for choosing the right entity and the importance of informed planning and seeking professional guidance to optimize liability protection and tax outcomes. Don’t miss these insights! Topics in this conversation include: Welcome to Today’s Episode and the Topic for Today (0:55)Updates on Firm and Professional Achievements (3:45)Explaining the Formalities of Corporations (6:32)Tax Implications for Corporations vs. LLCs (9:30)S Corporation Basics and Owner Limitations (12:28)S Corporation Benefits: Payroll and Tax Savings (15:25)Qualified Small Business Stock Discussion (18:23)Professional Associations and Entity Choice for Professionals (21:21)Key Considerations When Electing Business Entities (22:48)TFE Talks: Navigating Wealth, Business, and Legacy is the official podcast from Thomas, Fisher & Edwards, a premier estate planning and business advising law firm in Greenville, South Carolina. Each episode, our attorneys break down complex legal topics—covering estate planning, business strategy, and legacy building—into clear, actionable insights. Whether you're refining a plan with our team or preparing for the future, this podcast serves as your go-to resource for thoughtful, strategic planning. Tune in for guidance that helps you protect what matters most. Learn more at www.tfelawfirm.com.The information provided in this podcast is for general informational purposes only and should not be considered legal advice. Listening to this podcast does not create an attorney-client relationship with Thomas, Fisher & Edwards or any of its attorneys. Laws and regulations vary, and legal matters are highly fact-specific. For personalized legal guidance, please consult with a qualified attorney. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

In this episode of TFE Talks, attorneys Jordan and David discuss the importance of choosing the right business entity, exploring sole proprietorships, general partnerships, limited partnerships, and LLCs. They break down the tax implications and liability concerns for each structure, emphasizing how the default choices can impact your personal assets and business risks. Listeners will learn why proper entity selection and professional guidance are crucial for protecting their wealth and ensuring long-term business success. Don’t miss these great insights!Topics in this conversation include: Welcome to Today’s Episode and New Recording Format (0:42)Sharing Recent Accolades for Jordan and David (3:11)Why Entity Choice Matters for Business Owners (6:18)Sole Proprietorships: Simple but Risky (9:24)Accidental Partnerships and Liability Insights (12:25)What Distinguishes Limited Partnerships? (15:30)LLCs: Flexibility, Taxation, and Asset Protection (18:36)Final Takeaways and Previewing the Next Episode (20:30)TFE Talks: Navigating Wealth, Business, and Legacy is the official podcast from Thomas, Fisher & Edwards, a premier estate planning and business advising law firm in Greenville, South Carolina. Each episode, our attorneys break down complex legal topics—covering estate planning, business strategy, and legacy building—into clear, actionable insights. Whether you're refining a plan with our team or preparing for the future, this podcast serves as your go-to resource for thoughtful, strategic planning. Tune in for guidance that helps you protect what matters most. Learn more at www.tfelawfirm.com.The information provided in this podcast is for general informational purposes only and should not be considered legal advice. Listening to this podcast does not create an attorney-client relationship with Thomas, Fisher & Edwards or any of its attorneys. Laws and regulations vary, and legal matters are highly fact-specific. For personalized legal guidance, please consult with a qualified attorney. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

In this episode of TFE Talks, attorneys Jordan Goewey and Parker Baker break down the complex topic of Section 754 elections in partnership taxation, explaining when and why these elections matter. Listeners learn the difference between inside and outside basis, the tax implications of partnership interest transfers, and the importance of timely making a 754 election. Key takeaways include being proactive in planning, considering including 754 election provisions in operating agreements, coordinating with accountants to avoid costly tax mistakes, and so much more.Topics in this conversation include: Welcome to Today’s Episode (0:37)What Is a Section 754 Election and When Does It Arise? (3:06)Understanding Inside Basis Versus Outside Basis (5:18)Why Mismatched Basis Matters: 754 Election Relevance (7:04)The Downsides or Risks of a 754 Election (8:53)How to Make the 754 Election and Why Timing Matters (10:14)Biggest Mistake: Failing to Make the Election (10:27)Practical Takeaways for Business Owners and Advisors (11:37)Importance of Planning in Advance with Operating Agreements (12:12)Final Thoughts and Takeaways and Where to Learn More (13:03)TFE Talks: Navigating Wealth, Business, and Legacy is the official podcast from Thomas, Fisher & Edwards, a premier estate planning and business advising law firm in Greenville, South Carolina. Each episode, our attorneys break down complex legal topics—covering estate planning, business strategy, and legacy building—into clear, actionable insights. Whether you're refining a plan with our team or preparing for the future, this podcast serves as your go-to resource for thoughtful, strategic planning. Tune in for guidance that helps you protect what matters most. Learn more at www.tfelawfirm.com.The information provided in this podcast is for general informational purposes only and should not be considered legal advice. Listening to this podcast does not create an attorney-client relationship with Thomas, Fisher & Edwards or any of its attorneys. Laws and regulations vary, and legal matters are highly fact-specific. For personalized legal guidance, please consult with a qualified attorney. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

In this episode of TFE Talks, Attorneys Jordan Goewey and David Thompson break down the essentials of community property vs. separate property states, highlighting the unique legal frameworks, tax advantages, and estate planning implications, especially for clients moving between states. The discussion covers which states have community property laws, the substantial income tax benefits of community property, and the importance of identifying and segregating assets after relocating. Practical advice is given on using community property trusts and consulting estate planning attorneys early to protect client wealth and ensure the best possible outcomes. Key takeaway: Awareness and proactive planning are crucial for anyone with significant assets or those considering a move between different property law states. Don’t miss these great insights. Topics in this conversation include: What Is Community Property? (1:38)States With Community Property Laws (2:38)Importance Of Community Property For Estate Planning (4:13)Income Tax Benefits Of Community Property (5:19)How Title And Community Property Interact (8:39)Handling Community Property After Moving States (10:39)Preserving Community Property With Trusts (13:14)Opt-In States And Elective Community Property (16:08)Practical Advice For Advisors And Clients (18:26)TFE Talks: Navigating Wealth, Business, and Legacy is the official podcast from Thomas, Fisher & Edwards, a premier estate planning and business advising law firm in Greenville, South Carolina. Each episode, our attorneys break down complex legal topics—covering estate planning, business strategy, and legacy building—into clear, actionable insights. Whether you're refining a plan with our team or preparing for the future, this podcast serves as your go-to resource for thoughtful, strategic planning. Tune in for guidance that helps you protect what matters most. Learn more at www.tfelawfirm.com.The information provided in this podcast is for general informational purposes only and should not be considered legal advice. Listening to this podcast does not create an attorney-client relationship with Thomas, Fisher & Edwards or any of its attorneys. Laws and regulations vary, and legal matters are highly fact-specific. For personalized legal guidance, please consult with a qualified attorney. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

In this episode of TFE Talks, Jordan Goewey and Parker Baker break down the complex topic of the Delaware Tax Trap, a strategic estate planning tool that can boost tax efficiency for beneficiaries of irrevocable trusts. They explain what the Delaware Tax Trap is, when and how to leverage it for a basis step-up on appreciated assets, and the pros and cons of using a beneficiary’s will versus decanting a trust. Listeners will learn how rising estate tax exemptions make income tax planning more crucial than ever, and receive practical guidance for identifying opportunities and avoiding common pitfalls in advanced trust and estate administration. Don’t miss these great insights! Topics in this conversation include: Explaining the Delaware Tax Trap (0:50)What Triggers the Trap and Why It’s Dangerous (1:22)Who Should Use the Delaware Tax Trap? Ideal Scenarios (3:29)Using a Limited Power of Appointment: Process and Benefits (5:17)Comparing Decanting vs. Delaware Tax Trap: Pros and Cons (7:12)Practical Advice for Listeners on Identifying Opportunities (10:24)Income Tax Planning is the New Estate Planning (11:09)Parting Thoughts and Ways to Learn More (12:33)TFE Talks: Navigating Wealth, Business, and Legacy is the official podcast from Thomas, Fisher & Edwards, a premier estate planning and business advising law firm in Greenville, South Carolina. Each episode, our attorneys break down complex legal topics—covering estate planning, business strategy, and legacy building—into clear, actionable insights. Whether you're refining a plan with our team or preparing for the future, this podcast serves as your go-to resource for thoughtful, strategic planning. Tune in for guidance that helps you protect what matters most. Learn more at www.tfelawfirm.com.The information provided in this podcast is for general informational purposes only and should not be considered legal advice. Listening to this podcast does not create an attorney-client relationship with Thomas, Fisher & Edwards or any of its attorneys. Laws and regulations vary, and legal matters are highly fact-specific. For personalized legal guidance, please consult with a qualified attorney. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

In this episode of TFE Talks, Jordan Goewey and Parker Baker break down the complexities of holding S corporation shares in trust, exploring the differences between grantor trusts, QSSTs, and ESBTs, and their respective tax implications. They discuss the importance of careful estate and business planning to avoid costly mistakes like inadvertent S corporation termination, and offer practical advice for business owners, including working closely with CPAs, establishing stock restriction agreements, and building flexibility into estate plans. Listeners will gain actionable insights on protecting their business and legacy through informed trust and tax strategies. Don’t miss this enlightening conversation.Topics in this conversation include: Overview: S Corporation Shares in Estate Planning (0:47)Why S Corporation Shares in Trusts Are Complex (1:32)Types of Trusts That Can Hold S Corporation Shares (3:06)Requirements for QSST (Qualified Subchapter S Trust) (4:33)Stock Restriction Agreements and S Corp Elections (5:59)ESBT (Electing Small Business Trust) Requirements and Flexibility (7:05)Comparing QSST and ESBT: Why Choose One Over the Other? (7:39)Tax Implications of QSST vs. ESBT (8:05)Planning for Trust Elections in Estate Planning (10:39)Building Flexibility into Estate Plans (11:00)Fixing Inadvertent S Corporation Terminations (12:08)Practical Advice for S Corporation Owners (13:14)Importance of Team Approach and Working with CPAs (14:14)Final Thoughts and Takeaways (15:35)TFE Talks: Navigating Wealth, Business, and Legacy is the official podcast from Thomas, Fisher & Edwards, a premier estate planning and business advising law firm in Greenville, South Carolina. Each episode, our attorneys break down complex legal topics—covering estate planning, business strategy, and legacy building—into clear, actionable insights. Whether you're refining a plan with our team or preparing for the future, this podcast serves as your go-to resource for thoughtful, strategic planning. Tune in for guidance that helps you protect what matters most. Learn more at www.tfelawfirm.com.The information provided in this podcast is for general informational purposes only and should not be considered legal advice. Listening to this podcast does not create an attorney-client relationship with Thomas, Fisher & Edwards or any of its attorneys. Laws and regulations vary, and legal matters are highly fact-specific. For personalized legal guidance, please consult with a qualified attorney. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

In this episode of TFE Talks, Jordan Goewey and Matthew Edwards explore the importance of prenuptial agreements in the context of estate planning and business succession. They explain what prenups are, why it’s crucial to set them up before marriage rather than after, and how they interact with South Carolina law, including the concept of the elective share. Listeners will learn about the legal requirements for enforceable agreements, such as full financial disclosure and separate attorney representation, and gain practical tips for protecting personal and family assets while fostering clear, informed communication between partners.Topics in this conversation include: Introducing The Topic of Prenuptial Agreements (0:33)What is a Prenuptial Agreement? (1:21)Importance of Prenups Before Marriage vs. Postnuptial Agreements (1:58)The Elective Share in South Carolina and its Role in Prenups (3:11)Legal Requirements for Prenups—Consideration and Financial Disclosure (4:40)Separate Attorney Representation for Each Spouse (7:18)Practical Advice: Framing Prenups as an Insurance Policy (8:32)Collaboration with Financial Advisors During Disclosure (9:40)Simplicity vs. Complexity in Prenup Agreements (10:27)Advice on Timing: When to Discuss and Sign a Prenup (11:10)Avoiding Duress: Signing in Advance of the Wedding (12:50)Approaching the Prenup Conversation (13:38)Practical Summary—Prenup as a Gift and Positive Planning (14:58)Final Thoughts and Takeaways (15:54)TFE Talks: Navigating Wealth, Business, and Legacy is the official podcast from Thomas, Fisher & Edwards, a premier estate planning and business advising law firm in Greenville, South Carolina. Each episode, our attorneys break down complex legal topics—covering estate planning, business strategy, and legacy building—into clear, actionable insights. Whether you're refining a plan with our team or preparing for the future, this podcast serves as your go-to resource for thoughtful, strategic planning. Tune in for guidance that helps you protect what matters most. Learn more at www.tfelawfirm.com.The information provided in this podcast is for general informational purposes only and should not be considered legal advice. Listening to this podcast does not create an attorney-client relationship with Thomas, Fisher & Edwards or any of its attorneys. Laws and regulations vary, and legal matters are highly fact-specific. For personalized legal guidance, please consult with a qualified attorney. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

In this episode of TFE Talks, attorneys Jordan Goewey and David Thompson break down the latest changes to South Carolina trust law, focusing on grantor trust reimbursement, expanded powers of appointment, and the extension of the rule against perpetuities to 360 years. They discuss how these updates offer greater flexibility, enhanced creditor protection, and new planning opportunities for clients. Key takeaways include the importance of reviewing existing trust documents to ensure alignment with the new law and the potential for South Carolina residents to benefit from advanced trust strategies without looking to other states. Don’t miss this important information. Topics in this conversation include: Overview of New South Carolina Trust Law and Its Purpose (0:46)Explanation of Grantor Trusts and Reimbursement (1:13)Importance of Grantor Trust Reimbursement in Planning (2:05)Creditor Protection and Flexibility in New Law (4:18)Powers of Appointment and Increased Trust Flexibility (5:31)Practical Implications for Irrevocable Trust Planning (7:11)Changes to the Rule Against Perpetuities and Dynasty Trusts (8:26)Impact of 360-Year Rule on Estate Planning (10:46)Advice for Clients: Reviewing and Updating Trust Documents (11:53)Practical Takeaways and Benefits for South Carolina Residents (13:46)Closing Remarks and Contact Information (15:20)TFE Talks: Navigating Wealth, Business, and Legacy is the official podcast from Thomas, Fisher & Edwards, a premier estate planning and business advising law firm in Greenville, South Carolina. Each episode, our attorneys break down complex legal topics—covering estate planning, business strategy, and legacy building—into clear, actionable insights. Whether you're refining a plan with our team or preparing for the future, this podcast serves as your go-to resource for thoughtful, strategic planning. Tune in for guidance that helps you protect what matters most. Learn more at www.tfelawfirm.com.The information provided in this podcast is for general informational purposes only and should not be considered legal advice. Listening to this podcast does not create an attorney-client relationship with Thomas, Fisher & Edwards or any of its attorneys. Laws and regulations vary, and legal matters are highly fact-specific. For personalized legal guidance, please consult with a qualified attorney. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

In this episode of TFE Talks, Jordan Goewey and Matthew Edwards discuss the critical role of buy-sell agreements in business ownership. They explain what buy-sell agreements are, the differences between cross purchase and redemption types, common triggering events, and various methods for valuing a business. The conversation also covers strategies for funding buyouts, the best timing for creating these agreements, and common mistakes business owners make—such as neglecting to update or review their agreements. Key takeaways include the importance of having a buy-sell agreement in place from the start, regularly reviewing and updating it, seeking professional advice to ensure the agreement meets the evolving needs of the business and its owners, and more. Topics in this conversation include: Introducing Today’s Topic: Buy-Sell Agreements (0:33)What is a Buy-Sell Agreement? (1:16)Types of Buy-Sell Agreements: Cross-Purchase vs. Redemption (3:22)Valuation Methods in Buy-Sell Agreements (5:44)Payment Methods for Buyouts (8:52)Timing: When to Set Up a Buy-Sell Agreement (11:23)Common Mistakes and Practical Advice (13:42)Reviewing and Updating Buy-Sell Agreements (15:24)Final Thoughts and Takeaways (16:33)TFE Talks: Navigating Wealth, Business, and Legacy is the official podcast from Thomas, Fisher & Edwards, a premier estate planning and business advising law firm in Greenville, South Carolina. Each episode, our attorneys break down complex legal topics—covering estate planning, business strategy, and legacy building—into clear, actionable insights. Whether you're refining a plan with our team or preparing for the future, this podcast serves as your go-to resource for thoughtful, strategic planning. Tune in for guidance that helps you protect what matters most. Learn more at www.tfelawfirm.com.The information provided in this podcast is for general informational purposes only and should not be considered legal advice. Listening to this podcast does not create an attorney-client relationship with Thomas, Fisher & Edwards or any of its attorneys. Laws and regulations vary, and legal matters are highly fact-specific. For personalized legal guidance, please consult with a qualified attorney. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

In this episode of TFE Talks, listeners are introduced to Ben Ferris, the newest associate at Thomas, Fisher & Edwards. Ben shares his educational background, journey from Charlotte to Greenville, and what drew him to estate planning and business law. The conversation highlights his passion for helping families build lasting legacies, his positive impressions of the firm’s culture, and his eagerness to work with clients. The episode also features a fun lightning round, revealing Ben’s favorite restaurants, coffee habits, and love for golf. Key takeaways include the importance of meaningful client relationships, the value of firm culture, and so much more.Topics in this conversation include: Introducing Ben Ferris (0:33)Ben’s Background and Education (1:04)Interest in Estate Planning and Business Law (1:58)Why Thomas, Fisher & Edwards? (2:39)Lightning Round: Favorite Restaurant (3:24)Lightning Round: Coffee Order (4:30Lightning Round: Golf Handicap and Hobby (5:41)Excitement About the Firm and Client Work (7:10)Final Thoughts and Takeaways (8:11)TFE Talks: Navigating Wealth, Business, and Legacy is the official podcast from Thomas, Fisher & Edwards, a premier estate planning and business advising law firm in Greenville, South Carolina. Each episode, our attorneys break down complex legal topics—covering estate planning, business strategy, and legacy building—into clear, actionable insights. Whether you're refining a plan with our team or preparing for the future, this podcast serves as your go-to resource for thoughtful, strategic planning. Tune in for guidance that helps you protect what matters most. Learn more at www.tfelawfirm.com.The information provided in this podcast is for general informational purposes only and should not be considered legal advice. Listening to this podcast does not create an attorney-client relationship with Thomas, Fisher & Edwards or any of its attorneys. Laws and regulations vary, and legal matters are highly fact-specific. For personalized legal guidance, please consult with a qualified attorney. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

In this episode of TFE Talks, Jordan Goewey and Parker Baker discuss the critical role of letters of intent (LOIs) in the business sale process. They explain what LOIs are, their importance in setting the stage for negotiations, and the distinction between binding and non-binding provisions—particularly confidentiality and exclusivity clauses. The conversation also highlights how buyers and sellers approach LOIs differently, common pitfalls sellers face, and the importance of negotiating key terms early. Listeners will learn why investing in legal and financial advice at the LOI stage can help secure better outcomes and avoid costly mistakes when selling a business. Don’t miss this great deep dive into LOIs. Topics in this conversation include: Introduction to Letters of Intent (LOI) (1:09)Importance and Role of LOIs (2:10)Binding Provisions in LOIs (3:17)Exclusivity/No-Shop Clauses (4:20)Buyers’ vs. Sellers’ Perspectives (5:46)Key Terms to Negotiate in LOIs (8:27)Common Pitfalls and Risks (10:31)Practical Advice for Business Owners (11:49)Value of Professional Advisors (13:17)Final Thoughts and Takeaways (14:12)TFE Talks: Navigating Wealth, Business, and Legacy is the official podcast from Thomas, Fisher & Edwards, a premier estate planning and business advising law firm in Greenville, South Carolina. Each episode, our attorneys break down complex legal topics—covering estate planning, business strategy, and legacy building—into clear, actionable insights. Whether you're refining a plan with our team or preparing for the future, this podcast serves as your go-to resource for thoughtful, strategic planning. Tune in for guidance that helps you protect what matters most. Learn more at www.tfelawfirm.com.The information provided in this podcast is for general informational purposes only and should not be considered legal advice. Listening to this podcast does not create an attorney-client relationship with Thomas, Fisher & Edwards or any of its attorneys. Laws and regulations vary, and legal matters are highly fact-specific. For personalized legal guidance, please consult with a qualified attorney. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

In this episode of TFE Talks, host Jordan Goewey introduces Mira Prisco, the newest associate at Thomas, Fisher & Edwards. Mira shares her educational journey through Clemson, LSU, and the University of Florida, her passion for combining law and accounting, and her reasons for joining the firm. The episode also features a fun lightning round revealing Mira’s personal favorites. Listeners will get to know Mira’s background, her excitement for helping clients with estate and business planning, her approachable, client-focused attitude, and more. Topics in this conversation include: Mira’s Background & Education (1:05)Interest in Estate Planning & Business Law (1:50)Joining Thomas Fisher and Edwards (2:14)Lightning Round: Personal Favorites (3:13)Book Recommendations (4:01)Excitement About the New Role (4:55)Final Thoughts and Episode Wrap-Up & Farewell (5:57)TFE Talks: Navigating Wealth, Business, and Legacy is the official podcast from Thomas, Fisher & Edwards, a premier estate planning and business advising law firm in Greenville, South Carolina. Each episode, our attorneys break down complex legal topics—covering estate planning, business strategy, and legacy building—into clear, actionable insights. Whether you're refining a plan with our team or preparing for the future, this podcast serves as your go-to resource for thoughtful, strategic planning. Tune in for guidance that helps you protect what matters most. Learn more at www.tfelawfirm.com.The information provided in this podcast is for general informational purposes only and should not be considered legal advice. Listening to this podcast does not create an attorney-client relationship with Thomas, Fisher & Edwards or any of its attorneys. Laws and regulations vary, and legal matters are highly fact-specific. For personalized legal guidance, please consult with a qualified attorney. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

In this episode of TFE Talks, Attorneys Jordan Goewey and Matthew Edwards break down the "One Big Beautiful Bill Act," highlighting its major changes to tax law and estate planning. They discuss the permanence of increased estate and gift tax exemptions, the qualified business income deduction, new opportunities with qualified small business stock and opportunity zones, the introduction of "Trump accounts" for children, and updated rules for charitable deductions. Key takeaways include the importance of proactive planning with all advisors, understanding new tax-saving opportunities, updating estate documents to take advantage of the latest law changes, and so much more. Topics in this conversation include: Background and Significance of the Big Beautiful Bill (0:33)Nature of Permanent Provisions (1:37)Estate and Gift Tax Exemption Changes (3:46)Qualified Business Income Deduction (QBI) (6:12)Qualified Small Business Stock & Opportunity Zone Credits (7:11)Temporary SALT Deduction Cap Increase (10:04)Introduction of "Trump Accounts" (11:37)Charitable Deduction Limits (13:58)Planning and Next Steps for Clients (15:10)Concluding Thoughts and Wrap-Up (18:43)TFE Talks: Navigating Wealth, Business, and Legacy is the official podcast from Thomas, Fisher & Edwards, a premier estate planning and business advising law firm in Greenville, South Carolina. Each episode, our attorneys break down complex legal topics—covering estate planning, business strategy, and legacy building—into clear, actionable insights. Whether you're refining a plan with our team or preparing for the future, this podcast serves as your go-to resource for thoughtful, strategic planning. Tune in for guidance that helps you protect what matters most. Learn more at www.tfelawfirm.com.The information provided in this podcast is for general informational purposes only and should not be considered legal advice. Listening to this podcast does not create an attorney-client relationship with Thomas, Fisher & Edwards or any of its attorneys. Laws and regulations vary, and legal matters are highly fact-specific. For personalized legal guidance, please consult with a qualified attorney. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

In this bonus episode of TFE Talks, host Jordan Goewey interviews law clerks Justin Manson and Meredith Watson about their summer at Thomas, Fisher & Edwards. Justin and Meredith discuss their backgrounds, what drew them to the firm, and their impressions of its collaborative and supportive culture. The conversation also highlights the importance of mentorship, continuous learning, gaining practical experience with clients, the value of curiosity, the benefits of working in a dynamic, team-oriented law firm, and more. Topics in this conversation include: Introducing the Guests and Clerkship Context (0:33)Justin and Meredith’s Backgrounds and Reasons for Choosing the Firm (1:26)First Impressions of the Firm (3:08)Impact of the Clerkship on Legal Career Perspectives (4:43)Importance of Ongoing Learning and Firm Ethos (6:05)Best Advice Received During the Clerkship (7:00)Closing Remarks and Conclusion (9:22)TFE Talks: Navigating Wealth, Business, and Legacy is the official podcast from Thomas, Fisher & Edwards, a premier estate planning and business advising law firm in Greenville, South Carolina. Each episode, our attorneys break down complex legal topics—covering estate planning, business strategy, and legacy building—into clear, actionable insights. Whether you're refining a plan with our team or preparing for the future, this podcast serves as your go-to resource for thoughtful, strategic planning. Tune in for guidance that helps you protect what matters most. Learn more at www.tfelawfirm.com.The information provided in this podcast is for general informational purposes only and should not be considered legal advice. Listening to this podcast does not create an attorney-client relationship with Thomas, Fisher & Edwards or any of its attorneys. Laws and regulations vary, and legal matters are highly fact-specific. For personalized legal guidance, please consult with a qualified attorney. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

In this episode of TFE Talks, host Jordan Goewey welcomes Parker Baker as the pair dives into the critical process of corporate cleanups in preparation for a business sale. Parker explains that corporate cleanups involve ensuring all business documentation—from ownership records to tax filings—accurately reflects the company's current state. They also discuss common issues like incorrect shareholder documentation, the importance of having proper corporate and LLC records, and why businesses should proactively address these matters years before a potential sale. Key takeaways include the need to formalize vendor and customer agreements, secure key employees, verify tax compliance, and maintain comprehensive corporate minutes. The overarching message is that well-organized documentation not only makes a business more attractive to potential buyers but also prepares owners to capitalize on unexpected sale opportunities by having their corporate house in order. Don’t miss this great conversation.Topics in this conversation include: Welcoming Parker and Previewing Today’s Episode (0:34)Episode Topic Introduction: Corporate Cleanups (1:28)Importance of Accurate Records in Business Sales (2:45)Common Issues in Business Documentation (4:03)Risks of Inconsistent Records (6:00)LLC Ownership Documentation Issues (8:25)Proactive Steps for Business Sale Preparation (9:02)Value of Written Agreements (11:26Benefits of Early Issue Resolution (“Old and Cold”) (13:19)Practical First Step for Business Owners and Parting Thoughts (14:12)TFE Talks: Navigating Wealth, Business, and Legacy is the official podcast from Thomas, Fisher & Edwards, a premier estate planning and business advising law firm in Greenville, South Carolina. Each episode, our attorneys break down complex legal topics—covering estate planning, business strategy, and legacy building—into clear, actionable insights. Whether you're refining a plan with our team or preparing for the future, this podcast serves as your go-to resource for thoughtful, strategic planning. Tune in for guidance that helps you protect what matters most. Learn more at www.tfelawfirm.com.The information provided in this podcast is for general informational purposes only and should not be considered legal advice. Listening to this podcast does not create an attorney-client relationship with Thomas, Fisher & Edwards or any of its attorneys. Laws and regulations vary, and legal matters are highly fact-specific. For personalized legal guidance, please consult with a qualified attorney. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

In this episode of TFE Talks, attorneys Jordan Goewey and David Thompson dive deep into the complex world of probate, demystifying the legal process of estate administration. David explains probate as both the legal validation of a will and the process of managing a deceased person's assets, highlighting key aspects such as the role of a personal representative, potential privacy concerns, and the typical timeline of estate settlement. The discussion also covers critical topics including probate fees, creditors' claims, and the importance of careful estate planning. Key takeaway for listeners is that while probate can seem daunting, with proper preparation and potentially professional guidance, it can be a manageable process. The episode emphasizes the importance of selecting a trustworthy personal representative, understanding the fiduciary responsibilities involved, planning ahead to potentially minimize complications and public exposure during estate administration, and more. Topics in this conversation include: What is Probate? (0:49)The Role of the Personal Representative (2:15)Why People Try to Avoid Probate (4:09)Probate Fees and Privacy Issues (5:17)Filing the Will and Appointment of Personal Representative (8:22)Privacy Concerns with Probate Inventory (10:18)Creditor Claims Period (12:00)Closing the Estate (14:05)Emotional Considerations and Support (17:49)Final Thoughts and Takeaways (18:27)TFE Talks: Navigating Wealth, Business, and Legacy is the official podcast from Thomas, Fisher & Edwards, a premier estate planning and business advising law firm in Greenville, South Carolina. Each episode, our attorneys break down complex legal topics—covering estate planning, business strategy, and legacy building—into clear, actionable insights. Whether you're refining a plan with our team or preparing for the future, this podcast serves as your go-to resource for thoughtful, strategic planning. Tune in for guidance that helps you protect what matters most. Learn more at www.tfelawfirm.com.The information provided in this podcast is for general informational purposes only and should not be considered legal advice. Listening to this podcast does not create an attorney-client relationship with Thomas, Fisher & Edwards or any of its attorneys. Laws and regulations vary, and legal matters are highly fact-specific. For personalized legal guidance, please consult with a qualified attorney. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

In this episode of TFE Talks, host Jordan Goewey welcomes Matt Edwards as they dig into income tax basis, explaining how it determines taxable gains when selling assets. During the conversation, Jordan and Matt explore how basis is established through purchase, gifting, or inheritance, with a particular focus on the critical "step-up in basis" rule that occurs when assets are inherited. The podcast provides valuable insights into estate planning strategies, such as strategically transferring assets to minimize tax liability and the potential benefits of holding appreciated assets until death. Key takeaways include understanding that basis is typically the original purchase price, assets can receive a new basis at death, why individuals should consult professionals to navigate complex tax implications when buying, selling, or transferring assets, and so much more.Topics in this conversation include: Welcoming Matt and Previewing Today’s Episode (0:33)What is Income Tax Basis (1:17)Basis for Gifted Assets (2:14)Establishing Basis in New Businesses (3:38)Basis and Death/Inheritance (4:53)Benefits of Stepped-Up Basis (7:17)Strategies for Manufacturing Basis (9:09)Potential Tax Law Changes (11:10)Practical Advice for Asset Owners (13:01)Final Thoughts and Conclusion (15:08)TFE Talks: Navigating Wealth, Business, and Legacy is the official podcast from Thomas, Fisher & Edwards, a premier estate planning and business advising law firm in Greenville, South Carolina. Each episode, our attorneys break down complex legal topics—covering estate planning, business strategy, and legacy building—into clear, actionable insights. Whether you're refining a plan with our team or preparing for the future, this podcast serves as your go-to resource for thoughtful, strategic planning. Tune in for guidance that helps you protect what matters most. Learn more at www.tfelawfirm.com.The information provided in this podcast is for general informational purposes only and should not be considered legal advice. Listening to this podcast does not create an attorney-client relationship with Thomas, Fisher & Edwards or any of its attorneys. Laws and regulations vary, and legal matters are highly fact-specific. For personalized legal guidance, please consult with a qualified attorney. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Topics in this conversation include: Basics of Trust Planning (1:14)Creditor Protection in Trusts (4:11)Flexibility in Trust Planning (7:11)Importance of Prenuptial Agreements (11:13)Trusts for Spousal Protection (13:35)Incapacity and Protection Concerns (16:12)Actionable Advice and Parting Thoughts (17:43)TFE Talks: Navigating Wealth, Business, and Legacy is the official podcast from Thomas, Fisher & Edwards, a premier estate planning and business advising law firm in Greenville, South Carolina. Each episode, our attorneys break down complex legal topics—covering estate planning, business strategy, and legacy building—into clear, actionable insights. Whether you're refining a plan with our team or preparing for the future, this podcast serves as your go-to resource for thoughtful, strategic planning. Tune in for guidance that helps you protect what matters most. Learn more at www.tfelawfirm.com.The information provided in this podcast is for general informational purposes only and should not be considered legal advice. Listening to this podcast does not create an attorney-client relationship with Thomas, Fisher & Edwards or any of its attorneys. Laws and regulations vary, and legal matters are highly fact-specific. For personalized legal guidance, please consult with a qualified attorney. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Topics in this conversation include: Welcoming David and Previewing Today’s Topic (0:32)Overview of Estate and Gift Tax System (1:26)Wealth Transfer Tax Explained (00:02:15)Gift Tax and Exemption Usage (5:39)Qualified Educational Expenses (8:07)Medical Expenses Exemption (9:44)IRS Tracking of Gifts (11:22)Future Concerns About Exemption Changes (14:21)Advice for Estate Planning (18:07)Final Thoughts and Takeaways (19:23)*Note: information recorded in this podcast is current as to the time of recording. You should consult with your attorney on the above information to keep up to date with current law. TFE Talks: Navigating Wealth, Business, and Legacy is the official podcast from Thomas, Fisher & Edwards, a premier law firm in Greenville, South Carolina. Each episode, our attorneys break down complex legal and financial topics—covering estate planning, business strategy, and legacy building—into clear, actionable insights. Whether you're refining a plan with our team or preparing for the future, this podcast serves as your go-to resource for thoughtful, strategic planning. Tune in for expert guidance that helps you protect what matters most. Learn more at www.tfelawfirm.com. The information provided in this podcast is for general informational purposes only and should not be considered legal advice. Listening to this podcast does not create an attorney-client relationship with Thomas, Fisher & Edwards or any of its attorneys. Laws and regulations vary, and legal matters are highly fact-specific. For personalized legal guidance, please consult with a qualified attorney. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Topics in this conversation include: Welcoming Matt and Previewing Today’s Episode (0:33)Foundational Principle of Estate Planning (2:37)Four Primary Ways Assets Pass (3:19)Limitations of Beneficiary Designations (6:04)Understanding Survivorship Assets (8:17)Common Misconceptions about Joint Ownership (10:34)Risks of Adding Children as Co-Owners (12:36)Wills vs. Revocable Trusts (15:08)Benefits of Revocable Trusts (18:01)Dynamic Nature of Estate Planning (21:18)Actionable Advice and Key Takeaways (23:05)TFE Talks: Navigating Wealth, Business, and Legacy is the official podcast from Thomas, Fisher & Edwards, a premier estate planning and business advising law firm in Greenville, South Carolina. Each episode, our attorneys break down complex legal topics—covering estate planning, business strategy, and legacy building—into clear, actionable insights. Whether you're refining a plan with our team or preparing for the future, this podcast serves as your go-to resource for thoughtful, strategic planning. Tune in for guidance that helps you protect what matters most. Learn more at www.tfelawfirm.com.The information provided in this podcast is for general informational purposes only and should not be considered legal advice. Listening to this podcast does not create an attorney-client relationship with Thomas, Fisher & Edwards or any of its attorneys. Laws and regulations vary, and legal matters are highly fact-specific. For personalized legal guidance, please consult with a qualified attorney. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Thomas, Fisher & Edwards is a premier law firm based in Greenville, South Carolina, providing elite and personalized legal counsel for individuals, families, and businesses. With a Tier 1 ranking in seven practice areas by Best Law Firms® in 2024, the firm is known for its high-touch, sophisticated approach to legal solutions.For over two decades, TFE has guided clients through estate planning, business law, mergers & acquisitions, business succession, trusts, and more, ensuring their legacy, wealth, and enterprises are protected. Their commitment to integrity, excellence, and innovation sets them apart as a trusted partner for those navigating complex legal challenges.Learn more at www.tfelawfirm.com.  Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.