You tackle the hard questions and difficult topics with your clients every day. Your two new checklists are designed to help you communicate the importance and urgency of the holistic planning that lies ahead for your clients who should consider long-term care coverage and estate planning document review.
Many of your clients may be contemplating their needs and options for LTC insurance. This can be a complicated analysis, dependent upon an individual’s age, health, financial circumstances, wealth transfer goals, and general philosophy. Clients may struggle and be reluctant to weigh the risks and benefits and to assess the potential value of LTC coverage.
To help you guide your clients through this dilemma, we have created this checklist. It covers key issues to consider prior to purchasing LTC coverage, including:
- LTC needs and services
- Funding options
- Policy features
- Hybrid alternatives
- Tax considerations
Estate planning is a critical aspect of the financial planning process. Reviewing a client’s documents is an important exercise, both at the outset and throughout the advisory relationship. However, this can be a daunting task for both clients and advisors, who may find the exercise tedious and, perhaps, confusing.
You can use this new checklist to help guide the document review. It covers key considerations regarding the most common estate planning documents, including:
- Living Trusts
- Irrevocable Trusts
- Powers of Attorney
- Living Wills
When you pair the new checklist with the “What Issues Should I Consider Before I Update My Estate Plan?” checklist, you’ll have the right tools to help serve your client’s estate planning lifecycle.