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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And that really does help to grow the wealth.
And then
If there's an estate tax potentially, so right now in the US, anyone who's a US citizen or permanent resident can give away or die with about $13 million before you have to worry about estate and gift tax.
And depending on in which state you reside, some states have state level estate tax as well.
But thinking about that, and if assets stay in trust for kids, even if I say right now I don't have a taxable estate, but that exemption might go down at the end of next year to about $7 million a person.
And who knows what the laws could be over the years.
If those assets stay in trust for children, then it stays outside of their estate tax base.
So it's another great way to create wealth for your family.
And as you start to think about, hey, what assets might I want to put in the trust?
And that can get very personalized as well.
It depends on the type of asset and how it's, whether it's a residence or an investment property and things like that.
But walking through with an estate planning attorney, figuring out, okay, maybe I'm going to move a brokerage account that I own solely into my name, into my trust.
And then my trust dictates what happens.
If my spouse survives me or if he predeceases me.
And if you're looking at, we kind of touched on the required minimum distributions, making sure you're not maybe restricting and causing there to be a certain timeline that those distributions need to be made for spouses because there's been changes in the law and it might not be the most tax efficient way to do things.
Right.
And sometimes we're not moving things into trust during life.
We're naming a trust as a beneficiary.
So for example, maybe you want assets to go out right to a spouse, but you would want them to stay in trust for children.
So on certain assets, we might name the spouse as the primary beneficiary and then our revocable trust as the contingent beneficiary.
Showing 141–160 of 272 · page 8 of 14
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