The Perfect RIA A Trust Will Solve All My Problems… [Episode 294]
Feb 3, 2025
Matthew Jarvis and Micah Shilanski unpack the complexities of estate planning, emphasizing it’s more than a mere checkbox. They urge financial advisors to actively guide clients through this ongoing process. The duo shares insights on managing expectations, particularly with intricate trust arrangements. Personal storytelling is highlighted as a tool for building client connections. They advocate for focused meetings on estate planning, stressing that clarity and compassion are key to navigating this sensitive topic effectively.
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Guiding Clients Through Estate Planning
- Explain to clients that estate planning is crucial and you'll guide them through each step.
- This changes the dynamic from a simple checkbox task to a collaborative journey.
Attorney Mistakes
- Matthew Jarvis and his wife recently updated their estate documents and experienced attorney unresponsiveness.
- The attorney also misspelled their children's names, highlighting the common frustrations in the process.
Setting Time Expectations
- Set clear time expectations with clients regarding estate planning, especially with attorney responses.
- Doubling the estimated timeframe helps manage client expectations and avoids frustration.