Business Partner Program

Top 5 Reasons Most Don’t Have an Estate Plan and How You Can Help Ease Clients’ Concerns

Creating an estate plan is one of the most practical steps for your clients to secure and protect their assets and the future for themselves and their loved ones. However, we’ve found that many are hesitant to proceed. We also see that the reasons for their reluctance tend to fall under five general categories. Let’s review what the five categories are and the benefits of working with AmeriEstate’s estate planning process.

1. Don’t Want to Think About Death

When we bring up the idea of building an estate plan, many of our clients shy away because they don’t want to think about their own demise. Another twist on this perspective is that they think death is a long way off, so it isn’t necessary to consider an estate plan until much later.

You can display empathy while talking to your client about the importance of protecting their assets and their family’s inheritance. While it can be difficult for many to consider the implications of their passing on their loved ones, it can help to frame an estate plan as a way to reduce the stress and suffering their families would experience.

2. Don’t Know How to Start

Many clients have no idea about where to start with estate planning or what it involves.Many often think an estate refers to real estate property only, without realizing it relates to all assets. Additionally, most don’t realize that it involves more than deciding what happens with their estate after passing.

When you talk to your clients about creating an estate plan, it helps to review what the term means and tell them that you can walk them through the process and the requirements for each document. Let your clients know that you can help them customize their plan to meet their needs and match them up with one of the following types of trusts:

  • Last will and testament
  • Living trust
  • Irrevocable trust
  • Irrevocable insurance trust
  • Marital deduction and disclaimer trusts
  • Credit shelter trusts

Be sure to explain what each is and how your clients might benefit from them.

3. Don’t Have the Time

These days, everyone is busy, and the last thing they want to do is add a complex and lengthy process to their schedule. We can all relate to the feeling of not having enough time in the day and feeling overwhelmed with all the things we need to do.

You can inform your clients that AmeriEstate makes the process as easy and quick for them as possible, giving them a snapshot of what it looks like to work with us in creating an estate plan. Let them know we have the experience to help them complete each step efficiently and effectively.

4. Can’t Afford the Expense

Another roadblock is that people think creating an estate plan is expensive. Clients often find it reassuring to learn that AmeriEstate’s focus on providing dedicated legal services for asset protection has allowed us to charge affordable rates. Our estate planning fees are usually 30%-50% lower than the rates clients think we will charge.

5. Don’t Know What They Want to Do

Often, clients struggle with choosing how to allocate their assets and who to select as their powers of attorney. They also think that if their situation changes, they’re stuck with the decisions they’ve made.

You can reassure them that you are there to help them sort through the decisions they need to make. You should also tell them that an estate plan is a living document; revising it when situations or needs change is an essential part of the process. 

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If you would like more assistance or information about how to assist your clients in overcoming their hurdles, we’re here to help. Contact us today for more information!

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