Barron's Advisor Lindsay Pazdan: Essential Trust and Estate Planning Advice | Next Gen
Jul 31, 2025
Lindsay Pazdan, a Morgan Stanley Wealth Advisor, shares her expertise on trust and estate planning. She dives into the nuances of engaging Next-Gen clients and stresses the importance of updating estate plans regularly. By exploring family dynamics, she highlights the need for tailored discussions in blended families and focuses on preparing younger generations for financial stewardship. Effective communication strategies and collaboration between advisors and legal experts are key to successfully addressing clients' needs and fostering authentic wealth management.
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Trusts Are Part of Estate Planning
- Estate planning is the overall future plan for asset distribution upon death.
- Trusts are components of estate plans, including wills and healthcare proxies.
Understand Client Family Dynamics
- Ask clients about their family structure and relationships to tailor financial and estate planning.
- Ensure the estate plan reflects the client's true intentions and family complexities.
Engaging Next Gen in Wealth
- Getting next generation involved early helps them become responsible wealth stewards.
- Collaborative meetings with attorneys set up families for smoother wealth transition.