Financial advisors are in a unique position to quarterback a client’s entire financial picture, including the all-important estate plan.
As most advisors know, effective estate planning takes a whole team, including certified public accountants, estate and elder law attorneys, and insurance specialists. Some client estates may be large enough to also require trust services and valuation experts.
If you assemble the right team and call the plays well, you can create real value for your clients and help them tackle potential problems before they arise.
Here are five common estate planning mistakes advisors should avoid, plus business opportunities in each circumstance.