Pre‑liquidity Planning and Income Tax Strategies

What if the most important decision in wealth planning isn’t the tax strategy—but who you trust to make decisions when you no longer can? In this episode, I talk with Thomas Monroe, Founder and President of Blue Sky Trust, about the real role of a trustee and why independence, judgment, and governance matter more than technical structuring alone. Thomas explains how trustees sit at the intersection of tax, legal, investment, and family dynamics—and why poor trustee selection can quietly undermine even the most sophisticated planning. We explore real-world trust use cases, parenting and purpose across generations, and how thoughtful structuring creates optionality without eroding values.

Highlights:

• Why a trustee is a trusted advisor, not a commodity service
• The trustee as the “quarterback” of complex advisory teams
• Why independence is essential for both tax efficiency and judgment
• Common trust use cases beyond estate tax minimization
• Pre-liquidity planning and valuation discounting before exits
• The control paradox: why giving up control enables better outcomes
• Raising grounded, purpose-driven children with significant wealth
• Avoiding “trust fund baby” outcomes through structure and intent
• Why optionality matters more than optimization
• How governance and accountability keep the “Ferrari” running properly

Guest Bio:

Thomas Monroe is the Founder and President of Blue Sky Trust, a Nevada-chartered independent trust company serving ultra-high-net-worth families, entrepreneurs, and multigenerational family offices. With more than 25 years of experience, Thomas advises families and their advisory teams on sophisticated trust, estate, tax, and philanthropic planning, with a focus on governance, execution, and long-term alignment. He is widely recognized for bridging technical rigor with practical decision-making and for helping families navigate complexity while preserving flexibility, purpose, and family cohesion across generations.

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Disclaimer:

This podcast is for informational purposes only and does not constitute investment, financial, legal, or tax advice. Nothing in this episode should be interpreted as an offer to buy or sell any securities or to participate in any investment strategy. All opinions expressed by the host and guests are their own and do not represent the views of Weisburd Capital. Participants may hold positions or have financial interests in the companies, funds, or investments discussed. Any references to specific investments are for illustrative purposes only. Investing involves risk, including the potential loss of capital. Past performance is not indicative of future results, and any forward-looking statements are subject to risks and uncertainties. Any third-party data or opinions have not been independently verified. Listeners should conduct their own research and consult their own advisors before making any investment decisions.

(0:00) Introduction (4:40) Understanding trusts: Who needs them and use cases (6:43) Tax considerations in trust planning (9:15) Tackling the "trust fund baby" stereotype and parenting (14:29) Fostering children's independence and passions (19:57) Trust structuring best practices and life exploration (22:30) Trust control vs. tax benefits and trustee independence (27:45) Institutional trustees and dealing with mortality (31:50) Managing trust complexity and administration (35:00) Gaining insights from diverse client experiences (37:20) Lessons from the successful and spotting opportunities (41:00) Key takeaways and choosing the right trustee (43:30) Closing remarks