This Month's Harvest - Hidden Landmines in Your Clients’ Trusts— Are You at Risk?
You've spent years building trust with your clients. But did you know a simple clause in their trust document could erase you from the picture the moment they pass?
Most advisors don't see it coming. A well-meaning client may designate a successor trustee—perhaps a family member or a competing institution—without realizing that this decision could eliminate your role in the process. By the time you discover the change, it may be too late. In meetings regarding estate planning, the trustee's decision is often made in about 90 seconds. We know. Our Co-founders were in those meetings when they were advisors. The best practice is to always attend any significant estate or trust planning meetings that involve your client and the estate planning attorney. Even if your client designates a relative or friend as the future trustee, make sure you are included in the trust document as the advisor.
It extends beyond client retention; it's about securing your position as the trusted thought leader and advisor for your clients and their attorneys. By addressing this matter now, you solidify your role in influencing the next generation of financial decisions. With millions at stake, can you afford to hesitate?
A five-minute review could transform your approach and change everything for you. Schedule a meeting with our team today to ensure your clients' trust documents don't work against you and to learn the best practices for identifying hidden landmines in their trusts.
Let’s turn your growth into a full harvest!
Christopher Holtby - Co-Founder, Director of Business Development
Disclosures Please be advised that nothing in this newsletter may be interpreted as legal advice specific to any one individual or situation. For specific recommendations that pertain to you, it’s best to consult with a legal advisor.
