People buy life insurance to make sure there’s money in the bank to pay the mortgage and to feed and clothe the children in case something happens to them. This assurance is the same reason people create wills and trusts.
They seek that legally binding promise that their assets will end up in their families’ pockets and won’t be held up in court while strangers determine rightful heirs or settle family disputes.
The bottom line is that your clients want to know that their loved ones will be taken care of if they’re not around. And these estate-planning tools are a great start to offering them that peace of mind.
(Related: Yes, Millennials DO Need Estate Planning)
But here’s a way to add even more value to your clients’ lives: Offer them a means to organize and store it all.
Once you’ve helped them create a plan for the disbursement of their assets, you can take it a step further by providing them with a solution to create a roadmap to all of their accounts and personal belongings.
Encourage them to create a list of where all of their financial and personal assets reside and how to access them. Company names and websites, login credentials, a description of the assets in that account — these are invaluable keys when it comes time for the family to unlock these accounts. Without the proper information, they could be indefinitely shut out with little recourse for gaining entry. Encourage your clients to store this information in a secure place — perhaps a legacy platform that can house all the details and share it with the right people at the right time.