Why Every Advisor Should Know About Estate Planning | Financial Planning Process | Dr Sanjay Tolani

Hi guys, in today’s video I want to share with you why Estate Planning is IMPORTANT to every financial advisor.

Hey guys in today’s video i want to share with you why estate planning is important to every financial adviser you see ever since i started the mentoring family i’ve been receiving many messages from our members asking me multiple questions related to estate planning questions like doctor sanjay why and how can i learn about estate planning i want to choose a bigger

Case another question was i met a business owner today i’m not sure what can i do for him can you advise me on another question was i was recommended to a high net worth individual today how can i help him in his estate planning so in today’s video let’s take a look at a state planning from a financial advisors perspective and why you should learn it now before

We move on i just want to give you a quick introduction of myself my name is dr. sanchez ilan ian i’m also the family leader of sanjay mentoring family which helps financial advisors like yourself to become successful financial planners having been in the industry for 16 years i have a unique view of what works and what doesn’t in the financial planning world

And it is my hope that i can pass this experience to the new generation future financial advisors so that they don’t have to go through the same struggle as i have so what exactly is a state planning estate planning is the process of transferring wealth from one generation to the next generation and it is important that every individual with some assets should

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Do estate planning to illustrate why it is important let’s take a case study john john is 50 years old this year married with two children now if one day something were to happen to john let’s say he got into a car accident or passed away what will happen to john’s assets a few questions start to arise now should the assets go to the wife or to the kids which of

These assets should go to their creditors which of these assets the children should not control which of these assets will get transferred to a charity which of these assets will be used as memories for john which of these assets will be owned by the business which of these assets will be delivered in terms of liquidation where will the cash flow come from which

Assets should be held which assets should be sold there are so many questions that get raised when someone passes away now you will be surprised that 95% of all these issues could simply be avoided if john had not professed it learning so this boils down to the next important issue why do our clients need estate planning well the need is very simple if you don’t

Do estate planning that everything goes by the wishes and rules and regulations of governments and local laws there is no clarity on who gets what and when there’s no clarity on who gets the asset we go into disputes estate planning is for everyone who has even a single property so it doesn’t matter about how wealthy you are but estate planning is pretty much for

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Everyone who has any form of asset that needs to be passed on to the next generation so as a future financial adviser we need to know how to structure an estate planning for every one of our clients here is a quick checklist of the things you will learn about and need to know wills trusts financial power attorney how can financial products help in estate planning

And the list goes on you see learning about estate planning has the following benefits for you as an advisor one it positions yourself as a credible advisor two it allows you to close bigger cases because estate planning usually involves a larger case size three it builds up your reputation and your clients number four it also allows you to be recommended to their

Peers who require similar services now if you want to learn more about estate planning comment in the comment section below tell me more about estate planning and if the response is good i’ll cover more in depth on estate planning for the mentorian family thank you for watching this video if you want to watch more of such videos don’t forget to subscribe to the

Youtube channel by clicking on the subscribe button below this is dr. sanjay thulani together let’s make financial planning happier and easier for everyone

Transcribed from video
Why Every Advisor Should Know About Estate Planning | Financial Planning Process | Dr Sanjay Tolani By Dr Sanjay Tolani