#Checklist in estate planning template professional

But there are supporting documents required in most engagements, and if the client needs a trust, you’ll need to address funding it.

Some clients may not be expecting it during an initial call, so give them a heads up that the personal questions are going to be coming in rapid-fire.Īlmost all estate planning is quoted on a fixed fee, and the fixed fee includes the consultations and the documents. Remember that finances are sensitive, and there is a lot of personal financial undressing.

Ascertain the family situation and factor in that the appropriate estate documents, changes of ownership, and tax issues all affect how much time it will take for you to finish an estate plan.

Get a rough list of assets and net worth.

Understand the nature and extent of assets and family dynamics.

The client will want to know “how much it’s going to cost”, and you’ll need to know some details before you can give them a good faith estimate. Trust also relates to authority, which means less questioning and back-and-forth. Your clients have to trust you before they’ll hire you, let alone follow your recommendations. Anything that will help your new client relate to you will help ensure you land the engagement and begin to build trust.Īnd trust is paramount. If the prospective estate client got your name from some other source, tell them a bit about yourself. If this is a referral from another client of yours, same thing. That common contact is your link to each other, be sure to talk about it. If this is a referral from a business contact of yours, be sure to ask how they met and how long they know each other. They don’t need the technical details at this point - most clients want price, process, and the chance to get to know you.

#Checklist in estate planning template professional

You might not be a professional salesperson, but you need to act like you have the answers and guide the prospect in the initial stage. If they email you, ask if they’re open to having a 10-minute call. If you aren’t set up for inbound referrals yet, make sure you’re not missing anything by reading “How to Start an Estate Planning Practice”.

Most engagements will start with a prospective client reaching out to you, either by phone or email. I invite you to port this information into your own practice, adjust it to your workflow, and use it to help you be more efficient and effective. Have an Interim Document Review Meeting.Give Them an Estate Planning Questionnaire.It’s been through iteration after iteration, and I’ve collected all of the steps into an estate planning checklist below. It can be tempting to shorten your process with certain clients, but in my experience approaching each client with the same degree of thoroughness is always worth it. It’s these differences, and the opportunity to provide creative solutions, that keep estate planning careers, including my own these past 25 years, particularly interesting.īut despite these differences, it’s important and helpful to define a vetted process so you don’t miss anything. Each client has different types and amounts of assets, different family dynamics, and different attitudes. If you’ve practiced estate law even for just a few years, you know every client is unique in some way.