Episode 25

Estate Planning: Navigating Gift Tax, Irrevocable Trusts, and More with Attorney Mike Vogel - 06/14/2025

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June 14th, 2025

52 mins 50 secs

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financial education farm planning business entities law firm growth form 706 portability form 1041 tax returns post-death matters family wealth legal counsel attorney advice tax knowledge corporate structures nursing home costs private pay financial flexibility wisconsin estate planning estate tax exemption gift tax return trust administration probate form 706 step-up in basis s corporation llc janesville attorney vogle law firm long-term care expenses elder law lifetime exemption annual exclusion asset protection medicaid planning irrevocable trusts form 709 gift tax mike vogel estate planning

About this Episode

Join John Berkley and Attorney Mike Vogel for an insightful estate planning discussion. Attorney Vogel clarifies federal gift tax (Form 709), including annual exclusions and lifetime exemptions. He also navigates irrevocable trusts, highlighting their overusage and significant disadvantages in Medicaid planning, such as loss of asset control and facility acceptance issues. The episode emphasizes fact-based advice.