Creating a financial or estate plan is never a one-and-done endeavor. How can advisors help identify the potential problems in a plan and correct the problem before it happens to the client?
In this episode, Royal Standley focuses on stress testing financial and estate plans to ensure the clients have saved enough for the lifestyle they are accustomed to. Royal shares how he helps clients identify their needs and discover possible problems before they happen.
Royal discusses:
- The basics of estate planning documents and their importance
- What he looks for when identifying a clients estate and updating financial plans
- Why stress testing financial and estate plans is essential in identifying financial gaps
- What questions do advisors ask to adapt the financial plans for their client’s goals
- And more!
Related: The Problem with Hitting the Government Debt Ceiling