Lauren Klein

speaker

272 appearances 1 recordings 1 series first heard Jan 2025 last heard Jan 2025

Lauren Klein’s voice in public audio — every appearance, attributed to the second.

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Wealthy After 40: Retirement Planning and Budgeting for Gen X · Ep 91 | Smart Trust & Estate Moves Before Retirement with Lauren Klein · 10 Jan 2025 podcast

So we always offer to our clients, hey, if you're naming someone who's not a client, like often it's spouses, so they're both in the meetings, but if you're naming say adult children or siblings or parents to serve in these roles, do you want us to meet with them and explain what all of this means?

And sometimes they take us up on it, clients do, and sometimes they don't.

And it obviously depends on the family dynamics and

a lot of confidentiality and things like that.

But we love when the client says, let's explain everything now while everyone's alive and healthy.

So everyone kind of knows what we want to happen and what those roles do entail, you know, especially when it's adult children.

You know, it's never fun to say, hey, when we might die, you know, this is what's going to happen.

But

while everyone's alive and able to ask questions, you know, even like you said, like, hey, mom or dad, why did you name me?

Or what do you want me to do in this instance?

Or, hey, do you maybe want to name all of us together?

You know, maybe that makes the most sense.

And something else, this is a little bit outside of your question, but something else that we really recommend to a lot of clients that they try to start to

maybe treat different children in a different way, maybe put more restrictions on one trust over another, we always kind of pull back and say, we understand why you might want to do that.

But do you think that by treating beneficiaries differently, it might cause some confusion or fighting or conflict?

cause them to really feel like, Hey, what did I do that mom or dad, you know, put these restrictions in place for me and not for my, my sibling or siblings.

And so maybe treating everyone the same might be the best way to do.

And they, and they, you know, cause we've, we've done this for so long, you know, between my law partner and I over 20 years in trusts and estates, myself, 13 years that I've seen a lot.

It's like, you're like, did you think about this?

And oftentimes they, they really hadn't thought that, you know, that far ahead.

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