Looking Beyond the Will to Manage Your Estate

·25 min·2 clips

Eric Schwartz explains why your expensive estate plan might be useless if your accounts aren't titled correctly.

The episode is a radio show interview format on 'Money in Motion with Klaas Financial' hosted by Sean. Guests CJ Kloss and Eric Schwartz, retirement planning professionals, focus on estate planning beyond just having a will. They introduce the analogy of an attorney as the 'builder' and the financial advisor as the 'architect' who must coordinate the placement of assets. A key theme is the common disconnect between legal documents and how financial accounts are actually titled or designated. The conversation structures the estate planning process into four pillars. The first pillar contrasts wills, which go through public probate, with trusts, which can keep affairs private. The second pillar stresses the importance of updating beneficiary designations on accounts like IRAs, as these often override the will or trust. The third pillar touches on gifting strategies using the annual gift tax exclusion. The fourth pillar involves tax efficiency concepts like step-up in basis for inherited assets. The hosts advise listeners to conduct an 'estate audit' of their documents and accounts, especially after major life events. They share an anecdote about catching a client's error where a new brokerage account wasn't titled in the name of their trust. Later, the show shifts to a listener question segment. A listener named Diane asks about 2026 retirement contribution limits. CJ explains the new 'super catch-up' provision from the Secure Act 2.0, allowing individuals aged 60-63 to contribute up to $35,750 to a 401k. He notes caveats about Roth requirements for high earners. The episode concludes with the weekly Klaas Quiz question about the gift tax exclusion amount.

As heard by us

A practical estate-planning discussion focused on beneficiary designations, lifetime gifts, and tax-basis timing.

CJ Kloss and Eric Schwartz keep estate planning close to the decisions that most often trip families up: beneficiary designations, trusts, ex-spouses, deceased relatives, and the timing of gifts.

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Why you'd press play

You will hear why an old beneficiary designation can bypass the trust you thought would control the plan.

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