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 then there's also irrevocable trust planning.
So all the trusts I've been talking about so far are revocable trust, meaning I can amend, I can restate.
The IRS looks through the trust for tax purposes.
Everything flows to my tax return.
Creditors look through it, at least while I'm alive, and the trust is revocable, and it doesn't protect from that estate tax.
But for clients who either have a taxable estate or could, there's other mechanisms, making completed gifts into irrevocable trusts or owning life insurance in a certain type of life insurance trust.
There's a lot of things that you can do if you're kind of more in that high net worth bracket, or you could be.
down the road.
So one of the best ways to avoid issues in general when it comes to estate planning is don't DIY.
Don't do it yourself.
Just don't do it.
I've seen so many things over the years, either
in the better situation where a client is coming to us and they're alive and they have capacity and we're like, we have a will, we're like, oh, show it to us.
It was never signed or it wasn't properly executed.
And so it doesn't do anything.
It's just a piece of paper.
Or unfortunately, sometimes they have passed and we're seeing major issues.
We've seen children accidentally disinherited or
Or maybe there was a change in the law with retirement accounts and they didn't know that they needed to change their trust.
So that's the biggest thing, meeting with a qualified estate planning attorney in your state or even more locally in your city.
Showing 161–180 of 272 · page 9 of 14
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