Sam Kaufman, President, Agent Support Group
It’s a new year and hopefully we can put some of our concerns of 2021 behind us and look forward to a brighter ’22. In the past two years many people have had changes in their family structure and have relocated to new States. This is not isolated to older people that sought retirement in the past, it is also applicable to young people who can now work remotely or have employers that have relocated from metropolitan areas.
According to a 2021 Gallop fewer than 46% of adults have Wills. They have children, they have homes, cars and other assets but do not have a Will. One would believe that with today’s daily news headlines that more people, particularly those with families would have focused on the need to have a Will. How many advisors ask the question when discussing life insurance with a client about their Will? I would not want to take bets as we receive requests for illustrations and the advisor does not even know the client’s date of birth.
Now with many people changing their State of residency, more than ever they need to review their Wills. There are many nuances that change from State to State and failure to update may be costly. This applies to young and old alike and the need to review must be given priority. Yes, it’s not something that many want to do or give priority. It’s something they have to do!
Start talking to your clients about their financial wellbeing and the need for a Will. They may think you’re being a pest, but in the end, you will be rewarded when the first widow or widower calls you to say thanks. Thanks, is the biggest commission you will ever receive.