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Periodic Table of Estate Planning Elements
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Download the Periodic Table Definitions The Periodic Table of Estate Planning Elements™ can be used in a number of different ways. With a prospect or client We use the periodic table in initial client meetings in order to help clients understand that there are a number of different techniques, tools and strategies that could be used to help them accomplish their goals. This is always somewhat of an education for clients who are only used to being exposed to revocable living trusts and irrevocable life insurance trusts. In many cases clients have told us that they did not realize that there were other opportunities available to them. The periodic table can also be useful in helping clients understand that there are numerous approaches to achieving a certain result. And that our job is to find the best way to reach the result. Not only does this help clients understand that what we are doing is not cookie cutter but it also helps them to understand why we must charge them for the various parts of the process. Collaboration and teamwork One of the issues that comes up repeatedly is that clients come to us with advisors who want to learn about the various techniques and tools that are available as well as the fact that some techniques can be combined to produce even greater benefit. We use the periodic table to help in this process. We also use the tool with the members of the advisor team to build consensus about which strategies should be used with a particular client. Some advisors may conclude that one or more of the strategies on the periodic table carry unacceptable risks. If this case, we often will explore the issues and conclude that the strategy should be removed from consideration. This leaves us with planning tools that the team can confidently bring to the client. A helpful reminder Finally, the periodic table can be used as an "at a glance" reminder of the strategies recommended. In our wealth designs, we highlight the strategies actually proposed on a periodic table so that we can quickly look and see what strategies were suggested to a particular client. We encourage you to use the periodic table estate planning elements in these ways and to explore new ways to use the table. Please respect our intellectual capital rights. InKnowVision, LLC © 2009 InKnowVision®, LLC. WealthPlanningProfs and Wealth Planning Professionals are trademarks of InKnowVision®, LLC company. All Rights Reserved. Reproduction without permission prohibited. Privacy Policy
© 2009 InKnowVision, LLC. All Rights Reserved. For more information feel free to Contact Us. InKnowVision is a registered trademark of InKnowVision, LLC. The Power of Connective Wisdom, The Family Wealth Diagnostic, The Family Wealth Goal Achiever, The Family Wealth Goal Clarifier, The Family Wealth Goal Planner Calendar and the Periodic Table of Estate Planning Elements are service marks of InKnowVision, LLC. |