Significant life changes like the birth of a new grandchild, a divorce or the loss of a spouse should also prompt a check-in. Once an estate plan is in place, it's good practice to review it each year to confirm that beneficiaries are up-to-date and that documents have been properly updated and executed. Working relationships with trusted CPAs, attorneys and other centers of influence can also provide a powerful avenue for practice growth through referrals. When your client is ready to meet with an attorney or another specialist for the first time, having a direct conversation with the specialist first ensures a white-glove handoff where both parties are fully informed and acquainted. If the client does not already have estate specialists that they connect with regularly, you can add tremendous value by recommending trusted professionals in your network and preparing your client with the necessary information to have a constructive meeting. For more complex situations, additional steps are needed to ensure a comprehensive estate plan is established, a process that may include collaboration with outside centers of influence, specialists within the firm or a combination of both to ensure the client's wishes and needs are met.Įstate planning is often a daunting task for a client who is new to the process. For simpler situations, the three documents mentioned above may suffice. If a plan isn't in place, we will build one based on the client's unique circumstances. Does the client have basic documents in place? At a minimum, these should include a will, a power of attorney and a health care proxy. Once a relationship is established, current estate plans are reviewed and adjusted.
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