Tip: Explain how simple and efficient the planning process can be for them.
Many of us lead busy lives, and it is difficult to make time for everything. Yet we manage to make time for the things that matter to us. It also helps if we understand the process, because an efficient use of time is of paramount concern when we determine what we are going to make time for this week.
That being stated, many folks do not understand how easy the estate planning process can be for them. For basic estate plans, there are essentially 3 important meetings each of which will last an hour or less (unless you want them to last longer). The first is the initial consultation, the second is the customization meeting, and the third is the review/signing meeting.
In the first meeting, we are determining what plan makes the most sense as everyone is different and even folks with simple plans often have different wishes than others. This meeting can even take place on the web or by phone if it is too difficult to meet in-person.
In the second meeting, we are educating and reviewing options to customize the plan so it meets the objectives of the client. Even young families need to do this, because we are concerned about making sure their kids are taken care of the way they want them taken care of…not just with who is going to take care of them.
In the third meeting, we are reviewing the documents and signing them.
Ultimately, this is around 3 hours of total time spent by the client spread out to accommodate their tight schedule.
In our third post in this series, we will delve into the second strategy of explaining to your children what will happen if they don’t do the planning.
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