Why I love being an estate planner

Driving into work today I was thinking about the rest of my November leading into Thanksgiving and I had to smile.  Work doesn't feel like work anymore.  First, I was thinking about ways I could boost my team's morale and their bottom line by tying customer retention with a law firm retirement plan.  I believe my law firm's future (InSight Law) depends on treating our existing clients like one of my own family.  I want my team to understand that their future is tied to our clients' ongoing satisfaction. 

Second, I thought about the future of InSight Law.  I feel lucky enough to have the type of relationship with my clients that they can tell me anything.  We set the expectation early that we are in this together and I believe this mutual respect makes the difference.  My value to the client is that the more information I know about the family and specific situation, the more legal options I will be able to identify for the family.  Why I love being an estate planner is that I get to work with people in a setting where I can be creative in my art while also applying sound legal techniques.

For example, one of my client's is trying to decide whether he should pursue 2012 end of year estate tax planning given that the laws are potentially scheduled to change for the worse (i.e. higher taxes on the horizon).    He also has the fundamental concern for his family's future after he is gone.  He told me that he tried to dedicate at least some portion of his day just trying to improve his family's future. Whether it is simply making a phone call to a relative, or putting together a family photo album, planning for retirement, or working on his estate plan.  To me it clear, that this man loves his family dearly and has made it a priority in his life.  I knew I had to capture this love and non-material wealth as well or I would really be doing the family a disservice. So I interviewed him on camera and asked him about his family and his life.  I asked him about the good times, the bad times and what life lessons he would like to share, etc.  He opened himself up to who he was so that his family had a lasting memory of who he was and what his life was about.  He told me that the video meant more to him than his whole financial estate.  After he said that to me, I got that feeling of clear direction in my practice.  We connected who he was to his financial wealth through a video that showed his love for family.  Simple and elegant while taking full advantage of the laws of Virginia as well as federal laws.  We built a solid bridge for generations of his family to come and build on.

It is human nature that we need to grow and evolve (technology, medicine, law, etc.).  Unfortunately, in my profession it is the norm where the death of a family member causes a negative impact on the family's future.  Of course the death of a family member will cause grieving and there will be a time of mourning.  I believe it is my job to help the family through this transition by guiding them through the legal issues while letting them know your hopes for them.  It truly is the ultimate gift when done right.

I want to do this type of planning for all of my clients.  Unfortunately, only a minority of my clients elect to do the Legacy Interview(TM).  At least once a year, I give my clients the opportunity to sign up for an interview, however, it has not been well received to this point.  As a business owner, it is frustrating to see my clients not taking advantage of a service that I believe would make a big difference to their plan in the form of a positive impact on their family's future well being.  However, this is also why I love being an estate planner.  It is facing these types of challenges that makes my life rewarding.  Hopefully in a few years, it will be the norm where my clients all of have a Legacy Video interview in their file along with their legal documents.


Client statement references above were made with full permission of the Client.  This blog is not intended to serve as legal, financial or tax advice.  Seek your own qualified professional for specific questions.