A new strategic alliance between R. Kenner French and the Asset Defense Team combines tax, finance, and AI expertise with nationwide asset protection and estate-planning legal services. French frames the session around a simple premise: many owners postpone estate planning, but doing it early enables an orderly transfer of assets and can reduce taxes for heirs. The partnership aims to deliver “one-stop” guidance so business owners can focus on what they do best.
Estate planning is defined as setting out how your property (assets and debts) will be managed and distributed after death—ideally in a tax-intelligent way. Key terms include estate, beneficiaries, grantor, trustee/fiduciary, and probate (a public, court-supervised process most families try to avoid). While wills are important, they have limits: they generally don’t avoid probate, can’t disinherit a spouse, and may be weaker without professional drafting. Kenner suggests that specialized legal oversight—often worth the extra cost—reduces challenges and ensures documents reflect complex, real-world needs.
Trusts are the backbone of many estate plans. He distinguishes revocable vs. irrevocable, living vs. testamentary trusts, and covers marital/non-marital structures such as QTIP , general power of appointment trusts , and estate trusts.
Insurance-related planning remains significant. Irrevocable Life Insurance Trusts (ILITs) can keep policy proceeds outside the taxable estate (again mindful of the three-year rule). Survivorship (“second-to-die”) policies pay after both spouses pass—often at lower premiums—while “first-to-die” pays on the first death. Beneficiary choices must be made carefully: naming individuals can be simpler but gives less control over how funds are used, whereas trusts allow you to dictate timing and conditions. He also highlights healthcare directives, living wills, guardianship designations, and even funeral wishes as integral parts of a complete plan.
Finally, Kenner explains how estate and inheritance taxes differ and why net estate value (gross assets minus debts/expenses) matters. Charitable strategies—like Charitable Remainder Trusts (potentially deferring or mitigating capital gains on highly appreciated assets while providing lifetime income) and Charitable Lead Trusts (front-loading benefits to charities and potentially reducing gift/estate taxes)—can align philanthropy with tax efficiency. The close: don’t wait for a “perfect” plan—start now, consult qualified advisors such as Bob Bluhm and the Asset Defense Team.
Takeaways• Estate planning is crucial for a smooth transition of assets.
• Many people delay estate planning, which can lead to complications.
• A will alone may not be sufficient for comprehensive estate planning.
• Trusts can provide more control and benefits than wills.
• Charitable trusts can help avoid capital gains taxes.
• Life insurance can be a valuable part of an estate plan.
• Choosing beneficiaries requires careful consideration.
• Planning for funeral wishes can be included in estate planning.
• Consulting with a qualified advisor is essential for effective estate planning.
• Proactive estate planning can provide peace of mind for families.
Sound Bites
• You cannot avoid probate.
• Get something on paper, do it now.
• You can plan your own funeral.
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