182. Ensuring Generational Wealth: How a Trust Fund Can Help Preserve Your Legacy With Diana Khan

Think trust funds are reserved for the top 1%? Think again! In this episode hosted by Kirsten Tyrrel, we cover the topics of generational wealth and estate planning with expert guest Diana Kahn, attorney and founder of DK Law Group. Diana breaks down the differences between wills and trusts, explaining why creating a trust isn't just for the ultra-wealthy, but essential for anyone building a legacy. You'll also glean insights from Diana's entrepreneurial journey, from her experience owning seven companies to how she balances success with family life. If you're someone who plans for the future, then this advance preparation could spare your loved ones months of headache as well as the emotional and financial tolls of not having a trust in place. Tune in for the exact steps that you can take now to secure long-term financial health! What we discuss with Diana: + Importance of planning for wealth preservation + Key differences between wills and trusts + Why trusts are not just for the wealthy + Avoiding probate and reducing taxes with trusts + Balancing business ownership and family life + Defining business roles before hiring + How a lack of planning can strain relationships + Special needs trusts and protecting children + Trusts prevent capital gains taxes and lawsuits + Building a legacy with control over wealth usage Thank you, Diana! Check out DK Law Group at DKLawMD.com. Follow Diana on Facebook and Instagram. Call or text Diana at (443)-739-6724. Watch the video podcast of this episode! Ready to Create a 7-Figure Business of Your Own..? Build My Money Machine Will Help You Think And Act Like A 7 Figure Income Earner So You Can Create The Business And Life Of Your Dreams. Go to BuildMyMoneyMachine.com to get started today! And follow us on: Instagram Facebook Tik Tok Youtube Twitter To get exclusive offers mentioned in this episode and to support the show, visit millionaireuniversity.com/sponsors. Want to hear from more incredible entrepreneurs? Check out all of our interviews here! Learn more about your ad choices. Visit megaphone.fm/adchoices