Estate Planning and Will writing is a critical aspect of financial and legacy planning that can often be overlooked but should never be undervalued. It’s certainly a growing sector with clients becoming increasingly aware of the need for a Will or Lasting Power of Attorney. However, they’re often uncertain on where to start and who to go to for the right kind of support and advice. If you have not read our "Step By Step Guide To Becoming An Estate Planning Consultant" then make sure you download it now.
Your Role As An Estate Planning Consultant
The role of an estate planning consultant is critical in guiding individuals and families through the complexities of this legal process but what exactly does it take to become an estate planning consultant? Becoming an estate planning consultant requires a combination of education, training, experience and empathy.
We provide you with the foundational knowledge to ask the right questions of your clients to really understand their current situation, their family dynamics and their aspirations for the future. It’s important to have a broad understanding of the bigger picture in relation to the nature of assets a client holds such as value and asset type i.e. house, business, property etc as this will inform linked elements such as tax planning. You also need to be mindful of the family structure. Is this a blended family i.e. children from a previous relationship? Or there any potentially vulnerable beneficiaries? As much as clients can be guided on a pragmatic approach to estate planning, it can often be an emotionally driven decision in terms of the sense of obligation that a person may have (or not!) to particular individuals.
You Need To Have Professionals Behind You
Do remember that you don’t need to be the expert on everything from the start but you do need to be open to learning and collaborating with other professionals such as tax advisers for example for those more complicated cases that you come across.
Having been in the profession for more than 25 years, the seasoned professionals at BTWC are by your side to mentor you through those early cases and enable you to learn the intricacies of estate planning first hand and develop the skills necessary to advise client effectively.
You don't need to be an expert on everything from the start but you do need to be open to collaborating with other professionals
You can progress on your learning journey with respected bodies such as the Institute of Professional Will writers to formal accreditation status should you wish, but let’s not forget that only real life experience can truly bring that knowledge to life.
You’re put in an incredible position of trust by families wishing to protect everything they have worked hard for and you empathy and understanding of sensitive matters becomes of critical importance. Acting with integrity should be second nature as you strive to provide peace of mind to your clients by delivering this essential service.
But what’s in it for you? A rewarding fulfilling career and the opportunity to build a sustainable profitable business for the future, that’s what.
If you would like any advice then please feel free to get in touch with us here at Beneficial Trust & Will Company, we are always happy to help.