Family Coming Together for the Holidays? Perfect Opportunity to Discuss Estate Planning!

Families often gather at the Holidays, and it may be the opportune time to have your clients ask their family members about their estate plan!

When talking with your clients, it’s important that they understand the why behind estate planning. If they want their assets and loved ones protected when they can no longer do it, they will need an estate plan. An estate plan aims to preserve the maximum amount of wealth possible for the intended beneficiaries and flexibility for the individual prior to death.

Many people think of a will and an estate plan as the same thing. They’re not. Both will and estate plans provide instructions for how goods and assets should be handled after death, but estate planning encompasses much more.

106489 – Uses of Life Insurance in Estate Planning

106344 – Estate Planning Assessment

But remember that an estate plan is only effective if kept current. Review the plan regularly – or after major life changes like marriage, divorce, or a death in the family. If their estate plan is out-of-date, their heirs could still encounter some of the problems they tried so hard to avoid.