What is Estate Planning?

Do you know that, on average, 70% of our prospects that convert to clients have incorrect estate planning? 

This course will focus on the importance of estate planning, setting up an in-depth estate process, and understanding all of the involved parties and their roles, the financial advisor, the estate planning attorney, and the clients. And when we say clients, we think of all of our clients, regardless of their wealth, because everyone should have at least a basic estate plan. 

This specific chapter focuses on what we mean when we, as financial advisors, say that we also do estate planning for our clients. Why? Because there might be a big difference between what we currently do and what we can and should do in order for our clients to have a complete estate plan.

If you are a financial advisor that has a checkbox question to ask your client whether or not they have a will and send them to their attorney in case they do not, well, you have come to the right place. Here we will share all the steps we have in our estate planning process to make sure our clients have a complete estate plan. And since this is not a one-man show, Rod Zeed, an example of an estate planning attorney authority, is joining us to share more about the role the estate planning attorneys should play in this process. 

And since we always do all of our planning based on our client’s goal; for example, the retirement planning with clients that know when they want to retire and what amount of money they want to have when they retire, the same thing we do with the estate planning too. We make sure to achieve the estate planning goal, which is keeping the family unity.

Action Item:

  1. Make sure that you take notes while going through the chapters. If you feel overwhelmed because you have heard several tips you want to implement in your practice, do not panic. Write them all down, and once done with the course, go back and circle only one, one that you will set a goal to implement within the next week or month. The Perfect RIA is all about taking action; therefore, make sure that you implement at least one thing you will hear here to make your processes better.