Given the state of the financial landscape, attorneys who provide estate planning to their clients must include life insurance settlements in their portfolio of client services.
Why? Say you discover that a life insurance policy previously issued on a senior (65+) client is no longer needed to protect their estate. Fact is that policy may actually prove to be more valuable to that client today as a life insurance settlement than upon maturation some date in the future. While circumstances may change, there is one constant: a financial professional must be fluent in life insurance settlements, both in the fundamentals and the options they represent.
By becoming familiar with the wealth of life insurance settlement options, as an attorney you are also increasing your value to your clients. Your fiduciary responsibility is both ongoing and evolving. This enhanced knowledge will enable you to be proactive for your clients and their families when it comes to counseling them in regard to their changing needs and finances.
ASK YOURSELF THE FOLLOWING
- Do I have clients who have had changes in their own or family estate planning?
- Do I have clients who may need liquidity?
- Do I have clients who may be considering allowing their policies to lapse?
- Am I truly familiar with life settlements and how beneficial they may be to my clients?
If you want to learn more, a conversation with Genesis should be your next step!,