Love & other assets

From first kid to first home: Estate planning milestones you don't want to miss with Daniel Goldstein

Episode Summary

In this episode of Love & other assets, Emily chats with Daniel Goldstein, co-founder of Trust & Will, about making estate planning accessible for millennials. Daniel shares insights from Trust & Will's study, revealing a communication gap between millennials and their parents, and emphasizes the importance of estate planning at every stage of life. The conversation also touches on the rise of digital tools to simplify the process for a new generation.

Episode Notes

In this episode of Love & other assets, Emily welcomes Daniel Goldstein, co-founder and COO of Trust & Will, the leading online estate planning company. Daniel shares his journey to starting Trust & Will, fueled by the realization that there was no easy online solution for estate planning, a common need for millennials navigating milestones like parenthood and homeownership.

The conversation delves into the insights from Trust & Will’s study on millennials and estate planning, revealing a significant communication gap between millennials and their parents about estate planning. Daniel attributes this gap to inertia, generational differences in money conversations, and the financial squeeze millennials are facing.

Daniel unpacks the key life milestones that trigger estate planning for many millennials, emphasizing the importance of taking action even when facing a limited net worth. Trust & Will’s user-friendly platform, designed for a digitally native audience, has proven to be highly effective in making estate planning accessible and affordable.

The conversation includes a practical breakdown of the trust vs. will process, debunking common misconceptions about the need for substantial wealth to utilize these tools. Finally, Daniel shares insights on the growing importance of digital estate planning, particularly for Gen Z, and the increasing partnership between Trust & Will and financial advisors.

What we discussed

The Trust & Will Story: Daniel reveals the serendipitous journey of starting Trust & Will, driven by his personal experience and the lack of user-friendly solutions in estate planning.
Millennials and Estate Planning: The conversation explores Trust & Will’s study on millennials, highlighting the significant communication gap around estate planning and the factors contributing to it.
Sandwich Generation Challenges: The episode sheds light on the "sandwich generation," particularly for millennials, navigating the simultaneous demands of raising children and caring for aging parents.
Estate Planning for All Net Worths: Daniel debunks the myth that estate planning is only for the wealthy, emphasizing its importance for individuals and families at various stages of life and asset accumulation.
Accessibility and Ease of Use: The episode showcases Trust & Will’s user-friendly platform, making estate planning accessible and straightforward for a digitally native audience.
Digital Estate Planning: The conversation emphasizes the increasing importance of digital estate planning in today's digital world, particularly for managing digital assets.

Listen to the full episode on Apple Podcasts, Spotify, Overcast, Podcast Addict, Pocket Casts, Castbox, Google Podcasts, Amazon Music, or on your favorite podcast platform.

Brought to you by Plenty. Plenty is an investment platform designed specifically for couples to build wealth, together. We go beyond budgeting, making it simple to invest, save and grow towards your future goals by unlocking access to the financial strategies of the wealthy.

SELECTED LINKS FROM THE EPISODE

Connect with Daniel Goldstein: Website| LinkedIn

Connect with Emily Luke: Website | LinkedIn | Twitter

Plenty: Website | Instagram | Facebook | YouTube | Twitter/X

PEOPLE & RESOURCES MENTIONED

Trust & Will's millennial estate planning study

The Great Wealth Transfer