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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move real estate or going to the bank or do really, you know, big financial and legal decisions, make really big decisions.
So who do you trust, you know, to really have your best interests at heart?
Yeah.
So I think one of the biggest things when you sit down to do estate planning is it kind of forces you to look at all of your assets and kind of have a snapshot.
And a lot of times it's like, oh, I forgot about that account or, you know, this 401k or whatever it is.
So that's like kind of the, you know, the foundation and starting there.
And it's just a good exercise.
And if you have an advisor, having that advisor or even a CPA advisor,
involved in that process, because they might be like, hey, remember this over here, you kind of forgot about that, or, you know, you already have a beneficiary designation.
So that's a good way to kind of get started.
And then, you know, also looking at what your net worth is and what your assets and liabilities are and say, okay, if something did happen to me when I was young, maybe I have a lot of debt.
Maybe life insurance is a good option to make sure that if I do pass away young and unexpectedly and there still is debt because I'm in the career building phase of my life and the wealth accumulation phase of my life, making sure that there is sufficient insurance to account for those things.
Maybe one spouse makes more money than the other spouse.
And so kind of thinking about that in the process, or maybe you have some money set aside for education for children.
children, but you know, at least at this stage, it wouldn't be sufficient.
Having insurance or other, you know, planning mechanisms in place can be really, really helpful.
And then thinking about, you know, trust planning for children, and I touched on a little bit before, but if you have assets staying in trust for those children, it can be really beneficial because it can help to create that generational wealth that it does protect and
at least in Florida where I'm licensed, if there's an asset held in trust for the child, it becomes irrevocable when the grantor, the person who creates the trust passes.
So there's creditor protection.
If you have a child who might be in a high liability profession, like say a dentist, there's protection.
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