A good estate plan is always the result of a team effort. While an estate planning lawyer is often the hub, a financial planner, insurance consultant and CPA are integral to the process. For example, no good estate planning attorney would plan a grantor-retained annuity trust for wealth transfer without first reviewing the investment considerations with the advisor.
As the population ages and families continue to become more diverse in terms of geography and life views, the role of the social worker, care manager, nurse practitioner, geriatric consultant or similar professional as part of an estate planning team will become more important. For simplicity, we'll refer to this professional as the care manager. Creatively integrating a care manager into the estate planning process can provide valuable information essential to planning a budget or trust distribution plan, ensure that funds disbursed are used for their intended personal goals, and provide a valuable bridge between the client's family, medical team and financial team.
Register or login for access to this item and much more
All Financial Planning content is archived after seven days.
Community members receive:
- All recent and archived articles
- Conference offers and updates
- A full menu of enewsletter options
- Web seminars, white papers, ebooks
Already have an account? Log In
Don't have an account? Register for Free Unlimited Access