10 Questions You Should Ask Your Clients – Estate Planning

Often, we are asked how best to approach the subject of Estate Planning with clients -  after all it can be a sensitive and personal subject to tackle. In our experience, highlighting to clients that they have assets in the first instance is a great starting point. If they have a house, savings and possessions to leave behind, then they have assets. Many people don’t recognise the wealth they accumulate during their lifetime nor do they always appreciate the impact of not taking any action at all.

The following questions start to identify specific instances where further consideration could be made to future estate planning to mitigate wealth depletion and to avoid heartache for loved ones at a difficult time.

  • Have you considered the impact of not having a Will on your Savings and Investments?

 

  • Would you like to know how you could protect these asssets ensuring that your chosen beneficiaries actually receive what you want them to?

 

  • Do you want to give members of your family the legal authority to look after your financial affairs if you become unable to do so through illness, accident or old age?

 

  • Have you considered the effect on the value of your family home if you had to go into care through an accident, illness or old age and had to pay care fees?

 

  • Are you concerned about the possibility of your family paying Inheritance Tax?

 

  • Are you unmarried and would you like to know how to safeguard the interests of you and your partner?

 

  • If you have children under the age of 18, have you thought about suitable guardians to care for them if you were unable to?

 

  • Do you have children from a previous relationship and would you like to ensure they inherit?

 

  • Have you thought about who will pay for your funeral and how much it may cost them?

 

  • Do you have a Will and if so when did you last review it?

 

Are you a professional advisor looking to offer Estate Planning services to your clients?

Take a look at the BTWC opportunity to find out more.