Conversations Under the Basswood Tree

Bringing you the latest updates and analysis of important legal developments in corporate and tax. Our podcast delves into discussions around complex laws and regulations, tackles challenging scenarios, and provides insights to help you understand and navigate the ever-changing legal and commercial landscape.

Disclaimer: This podcast is for informational purposes only and does not constitute legal advice. Listening to this podcast does not create an attorney–client relationship. For advice on your specific situation, please reach out to the Basswood Counsel team or consult a qualified attorney.

Estate Planning Explained: When a Will Is Enough and When a Trust Makes Sense

Estate planning often begins with a simple question: should your plan be centered around a will or a trust? This conversation explores how the two structures differ, how probate fits into the process, and why thoughtful planning helps ensure assets transfer as intended.

The Strategic Importance of Estate Planning

Estate planning is more than drafting a will – it’s about aligning your assets, beneficiaries, and tax strategy into one cohesive plan. In this episode, Chris Klug and Gina Lee explain how thoughtful coordination and ongoing review safeguard both your wealth and your legacy.

S2 Ep. 4: FBAR and FATCA – Filing Pitfalls, Thresholds, and Practical Tips

In Part 2 of our FBAR and FATCA series, Rudo Mugwagwa and Gina Lee move from understanding the rules to addressing where filings most often break down and how to avoid those issues.

S2 Ep. 3: FBAR and FATCA Explained – Understanding the Differences and Overlap

This episode discusses the FBAR and FATCA frameworks, common misunderstandings, and the consequences of getting compliance wrong.

S2 Episode 2: Coming to America (Part 2): Key U.S. Tax Considerations

Entering the U.S. market involves far more than forming an entity- it requires thoughtful planning across incentives, compliance, and exit strategy. In this episode, Chris Klug and Gina Lee unpack the federal, state, and cross-border tax considerations non-U.S. businesses must address once U.S. operations begin.

S2 Episode 1: What Really Happens in an M&A Deal?

From first contact to post-closing integration, M&A transactions demand structure, foresight, and resilience. In this episode, we explain how understanding the process helps owners navigate risk, timing, and negotiation more effectively.

S1 Episode 14: Coming to America: Structuring Your U.S. Expansion

For non-U.S. companies, the decision to operate in the U.S. is as much a tax decision as a business one. In this episode, we break down how footprint, structure, and financing choices shape U.S. tax exposure from day one.

S1 Episode 13: A Year of Change: Navigating New Rules in Securities, Crypto, and Financial Markets

A year of regulatory change has reshaped how businesses approach securities, fintech, and digital assets in the U.S. In this anniversary episode, Hazvinei Mugwagwa and Jephte Lanthia reflect on what shifted, where clarity emerged, and why adaptability is now a core business skill.

S1 Episode 12: From Tax Cuts to New Opportunities: Key Highlights of the One Big Beautiful Bill Act

The One Big Beautiful Bill Act introduces significant and permanent changes that reshape tax planning for both individuals and businesses. In this episode, Chris Klug and Gina Lee walk through the most impactful provisions and explain where timely planning can preserve value.

S1 Episode 11: One Year Under the Basswood Tree: Reflecting on Partnership, Purpose, and Growth

What does it mean to redefine success in the practice of law? In this anniversary episode, Basswood’s founders discuss their values, the story behind the Basswood name, and why true partnership guides how they work with clients.

S1 Episode 10: Succession Planning: Preparing Your Business for What’s Next

Most business owners don’t realize how closely succession planning, estate planning, and exit strategy are connected. In this episode, we walk through what business succession planning really involves and why proactive planning matters.

S1 Episode 9: The AI + AML Dilemma: What Crypto Adoption Really Means for Compliance

As crypto adoption accelerates, AML compliance is evolving just as quickly. In this episode, we discuss how compliance professionals and institutions are navigating fraud risk, evolving investor behavior, and a rapidly changing AML landscape.

S1 Episode 8: The AI Dilemma in AML: Game-Changer or a Governance Minefield?

The promise of AI in AML lies in speed, scale, and insight, but the pitfalls are equally real. In this episode, we discuss how financial institutions can responsibly integrate AI into compliance programs without losing transparency, judgment, or control.

S1 Episode 7: Playing Catch-up: America’s Regulatory Sprint for Crypto Leadership

As the U.S. positions itself as a global leader in crypto and fintech, regulatory clarity has become a central theme. In this episode, we examine what recent policy shifts mean for innovation, investor protection, and companies building in the digital asset ecosystem.

S1 Episode 6: How the One Big Beautiful Bill Act Affects Individuals

OBBBA is not just a policy update – it’s a practical planning roadmap for individuals and families. In this conversation, we explore how the Act affects income taxes, credits, deductions, and long-term financial planning decisions.

S1 Episode 5: How the One Big Beautiful Bill Act Affects Businesses

From expanded deductions to reinstated incentives, the One Big Beautiful Bill Act reshapes the tax landscape for U.S. businesses. This episode breaks down the key provisions and highlights the planning opportunities and tradeoffs business owners and advisors should be considering now.

S1 Episode 4: Building Your M&A Team

In M&A, process and people matter as much as price. This episode explores why assembling an experienced advisory team early can make or break a transaction.

S1 Episode 3: US Exit Tax, Covered Expatriates, and Planning Ahead: A Legal and Tax Perspective

Renouncing U.S. citizenship or terminating a green card comes with significant tax consequences that extend well beyond paperwork. This episode breaks down expatriation, covered expatriate status, and the planning considerations that can help mitigate unexpected tax exposure.

S1 Episode 2: Basswood Counsel Discusses New SEC Chairman

The appointment of a new SEC Chairman often signals more than a leadership change – it sets the tone for regulatory priorities ahead. In this episode, we examine how Chairman Paul Atkins’ approach may influence enforcement, rulemaking, and capital formation across public and private markets.

S1 Episode 1: AI & Corporate Governance

AI has the power to amplify both strengths and weaknesses within an organization. In this conversation, we discuss why boards must actively engage with AI – setting guardrails, governance frameworks, and leadership structures to manage risk and unlock value.

S2 Ep. 4: FBAR and FATCA - Filing Pitfalls, Thresholds, and Practical Tips

FBAR and FATCA compliance doesn’t start at the filing deadline, it starts with early planning. In Part 2 of our FBAR and FATCA series, Rudo Mugwagwa and Gina Lee move from understanding the rules to addressing where filings most often break down and how to avoid those issues.

For U.S. persons with foreign accounts, global families, financial institutions, and compliance teams, this episode highlights filing thresholds, documentation practices, certifications, and why proactive coordination is critical to avoiding penalties, delays, and unnecessary follow-up during the reporting cycle.

Disclaimer:
This podcast is for informational purposes only and does not constitute legal advice. Listening to this podcast does not create an attorney–client relationship. For advice on your specific situation, please reach out to the Basswood Counsel team or consult a qualified attorney.

S2 Ep. 3: FBAR and FATCA Explained – Understanding the Differences and Overlap

In this episode of the Under the Basswood Tree podcast, Basswood Counsel attorneys Rudo Mugwagwa and Gina Lee explain two U.S. cross-border reporting regimes that are often confused: FBAR and FATCA.

The discussion breaks down what each regime is designed to do, how they differ, where they overlap, and why many taxpayers and institutions struggle to understand how the rules fit together. The episode also clarifies who is required to file, what types of accounts and assets are reportable, and why FBAR and FATCA compliance extends beyond simply filing a U.S. tax return.

This is Part 1 of a two-part series focused on providing clarity around FBAR and FATCA for U.S. persons with foreign accounts, global families, business owners, and financial institutions navigating cross-border reporting obligations.

Disclaimer:
This podcast is for informational purposes only and does not constitute legal advice. Listening to this podcast does not create an attorney–client relationship. For advice on your specific situation, please reach out to the Basswood Counsel team or consult a qualified attorney.

S2 Ep. 2: Coming to America (Part 2): Key U.S. Tax Considerations

In this episode of the Under the Basswood Tree podcast, Chris Klug and Gina Lee continue the Coming to America series with a focused look at the U.S. tax considerations non-U.S. businesses face once operations begin. They walk through key issues to evaluate- from federal and state incentives to transfer pricing, treaty benefits, real estate considerations, and exit planning.

The conversation highlights why viewing U.S. expansion through a global lens and planning early can help avoid costly missteps while positioning the business for long-term, sustainable growth.

Disclaimer:
This podcast is for informational purposes only and does not constitute legal advice. Listening to this podcast does not create an attorney–client relationship. For advice on your specific situation, please reach out to the Basswood Counsel team or consult a qualified attorney.

S2 Ep. 1: What Really Happens in an M&A Deal?

Hazvinei Mugwagwa continues the Talking M&A series with a practical walkthrough of the M&A transaction process—from early discovery and letters of intent to due diligence, closing, and post-transaction integration.

Designed for founders, business owners, and executives, this episode demystifies what really happens behind the scenes and why early planning matters. Hazvinei explores common pitfalls around NDAs, term sheets, due diligence readiness, transaction structures, and post-closing obligations, while highlighting the emotional and operational realities that often catch sellers off guard.

Disclaimer:
This podcast is for informational purposes only and does not constitute legal advice. Listening to this podcast does not create an attorney–client relationship. For advice on your specific situation, please reach out to the Basswood Counsel team or consult a qualified attorney.

S1 Ep. 14: Coming to America: Structuring Your U.S. Expansion

Chris Klug and Gina Lee explore what it really means for non-U.S. companies to “come to America.” They break down U.S. tax concepts, entity structuring considerations, and common pitfalls that can arise without thoughtful planning.

This episode provides a clear, strategic starting point for foreign businesses entering the U.S. market.

Disclaimer:
This podcast is for informational purposes only and does not constitute legal advice. Listening to this podcast does not create an attorney–client relationship. For advice on your specific situation, please reach out to the Basswood Counsel team or consult a qualified attorney.

S1 Ep. 13: A Year of Change: Navigating New Rules in Securities, Crypto, and Financial Markets

In this episode of the Under the Basswood Tree podcast, Hazvinei Mugwagwa and Jephte Lanthia reflect on a year marked by significant regulatory change across securities, fintech, and digital assets. They discuss how the U.S. has moved toward a more market-friendly, clarity-driven approach — and what that means for businesses planning ahead. From stablecoin frameworks to the future of tokenization, AI-driven lending risks, and the realities facing minority investors, this conversation offers grounded guidance to help organizations navigate a fast-moving environment with confidence.

Disclaimer:
This podcast is for informational purposes only and does not constitute legal advice. Listening to this podcast does not create an attorney–client relationship. For advice on your specific situation, please reach out to the Basswood Counsel team or consult a qualified attorney.

S1 Ep. 12: From Tax Cuts to New Opportunities: Key Highlights of the One Big Beautiful Bill Act

In this special episode of the Under the Basswood Tree Podcast, recorded during Basswood Counsel’s First Anniversary Event on October 28th, Chris Klug and Gina Lee break down the most significant tax changes introduced under the One Big Beautiful Bill Act—and what these updates mean for individuals, families, and businesses.

From expanded deductions and enhanced credits to major improvements in pass-through benefits, R&D expensing, Opportunity Zones, and QSBS, they translate complex reforms into clear, practical insights. Their conversation highlights where new opportunities open up and where thoughtful planning matters most.

Tune in for a strategic, forward-looking overview of tax changes shaping 2025 and the years ahead.

Disclaimer:
This podcast is for informational purposes only and does not constitute legal advice. Listening to this podcast does not create an attorney–client relationship. For advice on your specific situation, please reach out to the Basswood Counsel team or consult a qualified attorney.

S1 Ep. 11: One Year Under the Basswood Tree: Reflecting on Partnership, Purpose, and Growth

In this special first-anniversary episode of the Under the Basswood Tree podcast, recorded during Basswood Counsel’s First Anniversary celebration on October 28, 2025, co-founders Meg Charles and Chris Klug reflect on the firm’s founding story and the values that continue to shape its growth. From redefining what true legal partnership means to practicing law with authenticity and care, they share how Basswood was built on collaboration, trust, and purpose. The conversation also highlights how the Basswood ethos—navigating legal complexities with care—guides every client relationship and decision.

Tune in as we celebrate one year of meaningful dialogue, connection, and progress under the Basswood Tree.

Disclaimer:
This podcast is for informational purposes only and does not constitute legal advice. Listening to this podcast does not create an attorney–client relationship. For advice on your specific situation, please reach out to the Basswood Counsel team or consult a qualified attorney.

S1 Ep. 10: Succession Planning: Preparing Your Business for What’s Next

What happens to your business when it’s time to step away—whether by choice, circumstance, or opportunity?

In this episode of Under the Basswood Tree podcast, Hazvinei Mugwagwa and Chris Klug delve into the essentials of business succession planning and why it should begin long before an exit is on the horizon. They explore how entity structure, estate planning, and tax considerations intersect to shape a smooth transition—whether you’re passing the business to family, selling to key employees, or negotiating with third-party buyers. This conversation highlights how early, integrated planning helps founders and business owners preserve both value and legacy.

Listen now and start planning your business’s next chapter with confidence.

Disclaimer:
This podcast is for informational purposes only and does not constitute legal advice. Listening to this podcast does not create an attorney–client relationship. For advice on your specific situation, please reach out to the Basswood Counsel team or consult a qualified attorney.

S1 Ep. 9: The AI + AML Dilemma: What Crypto Adoption Really Means for Compliance

Rudo Mugwagwa and compliance professional Abbie McMillan continue their conversation on the fast-evolving world of digital assets, exploring how emerging technologies, shifting investor trends, and new regulatory measures are redefining compliance expectations for financial institutions and investment funds.

In this episode, they explore the next frontier of compliance — the realities of AML in a world where crypto adoption and stablecoins are no longer speculative, but part of the financial system. The conversation dives into how this shift is reshaping compliance expectations for fund managers, institutions, and regulators, as new tools race to catch up to the risks — redefining how illicit activity is traced and prevented.

Guest: Abbie McMillan

Abbie brings over 17 years of expertise in financial services and digital assets, specializing in the intersection of regulatory compliance, operational integrity, and emerging technology. She has worked across diverse sectors including trust companies, insurance firms, investment funds, VASPs, digital exchanges, and Web3 applications, giving her a uniquely broad and practical perspective on risk management. Abbie has held senior regulatory positions such as AMLCO, MLRO, and DMLRO, where she led complex investigations and developed frameworks to meet FATCA and CRS obligations. She is highly regarded for her ability to translate complex regulations into clear, actionable processes that organizations can implement effectively. Her consulting work focuses on integrating advanced analytical tools with jurisdiction-specific compliance needs, ensuring both technical precision and regulatory alignment. Through this combination of hands-on leadership and technical insight, Abbie has established herself as a trusted authority in compliance for both centralized and decentralized environments.

Disclaimer:
This podcast is for informational purposes only and does not constitute legal advice. Listening to this podcast does not create an attorney–client relationship. For advice on your specific situation, please reach out to the Basswood Counsel team or consult a qualified attorney.

S1 Ep. 8: The AI Dilemma in AML: Game-Changer or a Governance Minefield?

AI is reshaping the way financial institutions approach anti-money laundering (AML) compliance — but with every opportunity comes new risks.

In this episode, Rudo Mugwagwa and compliance professional Abbie McMillan dive into how AI is being applied in the financial sector, from investment funds to digital asset platforms. They examine how emerging technologies are reshaping compliance programs, reveal where AI delivers real value, and explain why overreliance on it could expose institutions to significant risk.

Whether you’re a fund manager, advisor, or business leader, this episode provides timely insights to help financial institutions stay alert to the risks — and prepared to seize the opportunities — that AI brings to AML compliance.

Guest: Abbie McMillan

Disclaimer:
This podcast is for informational purposes only and does not constitute legal advice. Listening to this podcast does not create an attorney–client relationship. For advice on your specific situation, please reach out to the Basswood Counsel team or consult a qualified attorney.

S1 Ep. 7: Playing Catch-up: America's Regulatory Sprint for Crypto Leadership

Can the U.S. effectively balance innovation with investor protection in crypto?

Jephte Lanthia and Rudo Mugwagwa explore the GENIUS Act, shifting SEC priorities, and the roles of key agencies such as the SEC and CFTC in shaping crypto regulation. They break down what the new rules mean for businesses, investors, and fintech industry.

This episode is a must-listen for investment managers, advisors, fund administrators, business leaders, and investors looking to navigate today’s rapidly evolving digital asset landscape.

Disclaimer:
This podcast is for informational purposes only and does not constitute legal advice. Listening to this podcast does not create an attorney–client relationship. For advice on your specific situation, please reach out to the Basswood Counsel team or consult a qualified attorney.

S1 Ep. 6: How the One Big Beautiful Bill Act Affects Individuals

From expanded deductions and extended rate cuts to new credits and planning strategies, Gina Lee, Renee Tiun, and Chris Klug walk us through what individuals and families need to know under the One Big Beautiful Bill Act (OBBBA).

Tune in for a discussion on the most significant changes—and gain practical insights to help navigate tax planning under the new law.

Disclaimer:
This podcast is for informational purposes only and does not constitute legal advice. Listening to this podcast does not create an attorney–client relationship. For advice on your specific situation, please reach out to the Basswood Counsel team or consult a qualified attorney.

S1 Ep. 5: How the One Big Beautiful Bill Act Affects Businesses

In this episode, Chris Klug and Gina Lee break down how the One Big Beautiful Bill Act (OBBBA) introduces significant changes for U.S. businesses. From expanded business tax deductions to updated compliance rules, they discuss what companies need to know to stay ahead. Tune in for insights on business tax planning under the OBBBA.

Disclaimer:
This podcast is for informational purposes only and does not constitute legal advice. Listening to this podcast does not create an attorney–client relationship. For advice on your specific situation, please reach out to the Basswood Counsel team or consult a qualified attorney.

S1 Ep. 4: Building Your M&A Team

Hazvinei Mugwagwa examines the critical role of preparation and planning in achieving a successful M&A transaction. He emphasizes how assembling the right advisors—from legal counsel to accountants and financial professionals—can significantly influence deal execution and outcomes. This episode explores why early-stage decisions, from letters of intent to confidentiality agreements, often determine the ultimate success or failure of a transaction.

Disclaimer:
This podcast is for informational purposes only and does not constitute legal advice. Listening to this podcast does not create an attorney–client relationship. For advice on your specific situation, please reach out to the Basswood Counsel team or consult a qualified attorney.

S1 Ep. 3: US Exit Tax, Covered Expatriates, and Planning Ahead: A Legal and Tax Perspective

Gina Lee and Christopher Klug break down the U.S. Exit Tax and what it means for citizens and long-term green card holders considering expatriation. They walk through the key tests that determine “covered expatriate” status, the mechanics of the mark-to-market regime, and strategies for mitigating unintended tax consequences. Whether you’re planning your exit or advising someone who is, this episode offers essential insights on managing high-stakes tax decisions with long-term implications.

Disclaimer:
This podcast is for informational purposes only and does not constitute legal advice. Listening to this podcast does not create an attorney–client relationship. For advice on your specific situation, please reach out to the Basswood Counsel team or consult a qualified attorney.

S1 Ep. 2: Basswood Counsel Discusses New SEC Chairman

On April 21, 2025, Paul S. Atkins was sworn into office as the 34th Chairman of the Securities and Exchange Commission. Basswood Counsel attorneys Jephte Lanthia and Haz Mugwagwa sat down to discuss the current regulatory landscape for market participants, including investors, the crypto industry, the IPO market, and private funds, and what to expect under the Atkins chairmanship.

Disclaimer:
This podcast is for informational purposes only and does not constitute legal advice. Listening to this podcast does not create an attorney–client relationship. For advice on your specific situation, please reach out to the Basswood Counsel team or consult a qualified attorney.

S1 Ep. 1: AI & Corporate Governance

Good governance is about being intentional in establishing an effective organization, pulling together various components and resources to complete tasks and monitoring their progress to make adjustments. Implementing or adopting AI is no different from any other strategic undertaking, so it should be on the Board’s agenda.

Hazvinei Mugwagwa and special guest, Jeffrey Goddard discuss AI and corporate governance in the premiere episode of Under the Basswood Tree Podcast.

Disclaimer:
This podcast is for informational purposes only and does not constitute legal advice. Listening to this podcast does not create an attorney–client relationship. For advice on your specific situation, please reach out to the Basswood Counsel team or consult a qualified attorney.