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In this episode of Not Just Numbers: Honest Conversations with a Financial Advisor and Lawyer, hosts Madison and Mike discuss the growing trend of including pets in estate planning. They explore why more people are designating guardians and funds for pets in their wills, a practice once limited to the wealthy. Key topics include the benefits and risks of including pets in estate plans, how much money to allocate for their care, the lack of legal oversight for pet guardians, and whether pet trusts, such as the one created by Leona Helmsley, are necessary. Later joined by Michael Silverman, President and CEO of Silver Lining Insurance Agency. Michael shares insights from his long career in the insurance industry, which began in 1988. He discusses his journey into the family business, partnering with his father, and founding his own agency in 2019, where he focuses on creating personalized insurance solutions. Silverman emphasizes the importance of tailoring insurance to individual needs, avoiding one-size-fits-all approaches, and understanding what each client values most. The conversation touches on key aspects of risk management, the importance of ongoing education, and the emotional impact of life insurance planning. Silverman shares personal experiences and highlights the human side of financial advising—helping families prepare for life's uncertainties with care and compassion.

Link to WSJ article: https://www.wsj.com/personal-finance/you-love-your-dog-should-she-be-in-your-will-a2af9b04


Silver Lining Insurance Agency links:

Website: https://slia.agency/
Facebook: https://www.facebook.com/SilverLiningInsurance/
LinkedIn: https://www.linkedin.com/company/silverliningins/
X: https://twitter.com/SilverLiningIns