To work with Smallwood Wealth Management visit http://Go.oncehub.com/swconcierge to schedule a call today!
Estate planning isn’t just about wills and trusts, it’s about designing a strategy that protects wealth, reduces taxes, and preserves family legacy. In this episode of Money Isn’t, John Smallwood sits down with Michael Canarick, an estate planning attorney with deep expertise in taxation and multi-jurisdictional law.
From powers of attorney and revocable trusts to advanced tools like credit shelter trusts and SLATs, you’ll discover how to avoid probate, minimize taxes, and protect assets from divorce or creditors. Michael also explains how gifting strategies, state tax laws, and favorable trust jurisdictions can turn a basic estate plan into a true estate design, one that keeps more of your wealth in your family.
(00:00) Introduction
(03:12) Why Estate Planning Is More Than Just a Will
(07:36) The Essential Documents Everyone Needs at 18
(12:48) How Revocable Trusts Help You Avoid Probate
(19:55) Understanding Federal vs. State Estate Taxes
(27:40) Credit Shelter and QTIP Trusts Explained
(36:52) Gifting Strategies That Save Millions in Taxes
(46:05) Using SLATs and Advanced Trusts for Asset Protection
(57:28) Why Trust Jurisdiction Matters for Wealth Preservation
(01:08:10) Designing an Estate Plan
Enjoyed the episode? Make sure to like, subscribe, and leave a comment with your thoughts. Don't miss out on future insights from John Smallwood!
Connect with Us On Social Media
Instagram: https://www.instagram.com/smallwoodwealth
LinkedIn: https://www.linkedin.com/in/john-l-smallwood
Facebook: https://www.facebook.com/SmallwoodWealthManagement
Connect with the Canarick Law team
Instagram: https://www.instagram.com/canaricklaw/
Website: https://canarick-law.com/
This communication is strictly intended for individuals residing in the states of CA, CO, CT, DC, DE, FL, GA, IL, LA, MA, ME, NC, NH, NJ, NM, NY, OH, PA, RI, SC, TX, UT, VA. No offers may be made or accepted from any resident outside these states due to various regulations and registration requirements regarding investment products and services. Investments are not FDIC- or NCUA-insured, are not guaranteed by a bank/financial institution, and are subject to risks, including possible loss of the principal invested. Fixed insurance products and services are offered through Ash Brokerage or Smallwood Associates, Ltd. Fixed annuities are long-term insurance products. Before you purchase, be sure to talk to your financial professional about the annuity's features, benefits, and fees, and whether the annuity is appropriate for you, based on your financial situation and objectives. All guarantees are based on the continued claims-paying ability of the issuing company. Investment Advisory Services are provided by Smallwood Wealth Investment Management, LLC, an SEC-registered investment advisor. Headquartered at 199 Broad Street, Red Bank NJ 07701-2056.
Securities offered through Regulus Financial Group, LLC. Member FINRA/SIPC. Headquartered at 2687 44th St. SE Kentwood, MI 49512. Regulus Financial Group, LLC and Smallwood Wealth Investment Management, LLC are not affiliated companies.
NOT FDIC INSURED. NOT BANK GUARANTEED. MAY LOSE VALUE, INCLUDING LOSS OF PRINCIPAL. NOT INSURED BY ANY STATE OR FEDERAL AGENCY.
