Start the estate planning conversation with these questions

By AskLLOYD!

American Eagle Financial Services


...Is there more I should do?

If a client has begun preparations, perhaps created a will, there are chances it is not up-to-date and needs to be re-addressed, depending on how long ago he or she created it. Or if you're looking to start a new estate planning conversation, you will need to know the best way to prompt your client to consider the right options. Here are some questions you should ask your clients to ask themselves and reflect upon:
  • “How will I know that I’ve made all the preparations?”
  • “Who will walk me through the process?”
  • “How do I know what information to collect?”
  • “Is there a single guide to help me plan my estate for my children?”
Once you've guided your clients to ask themselves these questions, and you've helped them consider the right answers specific to them, you can move on to address this next set of questions:
  • Do you have this information prepared for your children?
  • Do you and your spouse know:
      1. Each other’s final wishes if one were to pass away unexpectedly?
      2. Whom to contact at the time of death?
      3. Where each other’s important personal and financial documents are located?
      4. All of the different insurance agents to contact?
      5. Whom to contact about a living trust and living will?
      6. Is all of the information mentioned above in one convenient location?
Now the conversation has started, and you can help your clients with the most important gift they can give their family: peace of mind.

See also:

10 celebrities who made unfortunate estate planning decisions

The 10 biggest estate planning mistakes