Flashcards by domain

Grantor, trustee, beneficiary. Revocable vs. irrevocable. The building blocks used by every other trust strategy in the library.

How entities protect you from liability, how they're taxed, and why the entity you pick drives everything downstream — from buy-sell design to exit tax.

Will, revocable living trust, durable financial power of attorney, advance medical directive, HIPAA release. The documents every adult should have, regardless of wealth.

Beneficiary forms beat wills. How accounts, deeds, and securities transfer at death — and why an outdated beneficiary form is the single most common estate-plan failure.

IRAs, 401(k)s, RMDs, the 10-year rule, Roth conversions, HSAs, ILITs, and Social Security. The mechanics that drive most retirement-era decisions.

Gift-tax mechanics, step-up, charitable vehicles, and the federal exemption — the dials HNW families adjust to move wealth efficiently across generations.

Excess liability mechanics, what umbrella covers and excludes, sizing to net worth + 10× income, the personal vs. commercial boundary, and why 80% of affluent households carry it while <20% of everyone else does.

The 5-year lookback, Medicaid Asset Protection Trusts, LTC insurance, VA benefits, Medicare, IRMAA. The domain where retail families hit the wall without planning.

The largest single US tax benefit for startup founders and early employees. Eligibility, 5-year hold, stacking strategies, § 1045 rollover, equity-comp interactions, and the OBBBA 2025 expansion.

Restricted words, entity selection, state-of-formation tradeoffs, EIN, FinCEN BOI, and the hygiene that actually keeps the liability shield intact. The practical side of standing up an LLC in VA / WV / AL.

Why an outdated 401(k) beneficiary form is the single most common estate-plan failure, the ERISA preemption trap, per stirpes vs. per capita, and the SECURE Act rules that changed inherited retirement accounts.

The Revised Uniform Fiduciary Access to Digital Assets Act, platform legacy tools, password-manager succession, crypto inheritance via multisig, and why a deceased person's digital footprint matters for identity theft.