Here are some specific tips that will help you be most effective during the information gathering meeting.
- Prospective clients may be hesitant
to divulge some of the personal information that is essential to good estate analysis. To ease these concerns, remind them of what was discussed during the opening meeting, including how an estate analysis offers the potential of saving thousands of dollars in estate shrinkage costs.
- Use the Estate Planning Data Taker or Estate Tax Calculation Entry Form
as a guide to help you ask questions and record information. If the prospect is a current client, expedite the process by completing any sections for which you have information before the meeting; confirm this information during the meeting.
- Uncover and record both facts and feelings.
Ask open-ended, probing questions to determine the prospect's feelings about his or her estate distribution needs, desires, and objectives. Section I (Income and Estate Objectives) of the Data Taker can be used for this purpose. The prospect's answers to these "feeling" questions may have a major impact on your recommendations. Also, be sure to ask if there are any health issues or special needs to be considered when making any recommendations.
- Because your recommendations may require the involvement of the prospective client's attorney and/or accountant,
it's important to discuss each estate planning team member's role. Be certain to reach agreement on when to involve these other professionals in the process.
- Set a time and date for a two-hour presentation meeting,
allowing about two weeks for the estate analysis process beforehand. Verify whether the prospect's attorney, accountant and/or spouse should attend this meeting.
